5 Stocks Drawing Attention Post Quarterly Results

3. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 50

Shares of Broadcom Inc. (NASDAQ:AVGO) climbed to a new high in the pre-market trading session on Friday, December 10, 2021, after beating expectations for its fiscal fourth quarter. The semiconductor company reported adjusted earnings of $7.81 per share, up from $6.35 per share in the year-ago quarter.

Revenue for the quarter came in at $7.41 billion, compared to $6.47 billion in the same period last year. Analysts were expecting Broadcom Inc. (NASDAQ:AVGO) to post earnings of $7.74 per share on revenue of $7.36 billion.

Follow Broadcom Ltd (Old Filings) (NASDAQ:AVGO)

Broadcom Inc. (NASDAQ:AVGO) also issued the sales outlook for its fiscal first quarter. The company expects to generate revenue of around $7.6 billion, ahead of analysts’ average estimate of $7.24 billion.

Discussing the results, CEO of Broadcom Inc. (NASDAQ:AVGO), Hock Tan, said:

“Broadcom concluded the year with record fourth quarter results driven by a rebound in enterprise, and continued strength from cloud and service provider demand. With the strength and breadth of our IP portfolio, we continue to be able to uniquely deliver leading edge, best-in-class semiconductor solutions, and extend our leadership in our franchise markets.”