Broadcom (AVGO) Tops Q1 EPS by 59c, Beats on Revenue; Offers FY24 Guidance

Broadcom (NASDAQ: AVGO) reported Q1 EPS of $10.99, $0.59 better than the analyst estimate of $10.40. Revenue for the quarter came in at $11.96 billion versus the consensus estimate of $11.79 billion.

Fiscal Year 2024 Business Outlook

Based on current business trends and conditions, the outlook for continuing operations for fiscal year 2024, ending November 3, 2024, including the contribution from VMware, is expected to be as follows:

• Fiscal year 2024 revenue guidance of approximately $50.0 billion; and
• Fiscal year 2024 Adjusted EBITDA guidance of approximately 60 percent of projected revenue.

For earnings history and earnings-related data on Broadcom (AVGO) click here.

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