Investing.com - Broadcom (NASDAQ:AVGO) reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Broadcom announced earnings per share of $9.07 on revenue of $8.1B. Analysts polled by Investing.com anticipated EPS of $8.71 on revenue of $7.91B.
Broadcom shares are down 16.91% from the beginning of the year and are trading at $552.92 , down-from-52-week-high.They are outperforming the Nasdaq 100 which is down 24.61% from the start of the year.
Broadcom shares gained 4.00% in intra-day trade the report.
Broadcom follows other major Information Technology sector earnings this month
Broadcom's report follows an earnings beat by Apple on April 28, who reported EPS of $1.52 on revenue of $97.28B, compared to forecasts EPS of $1.42 on revenue of $94.03B.
NVIDIA had beat expectations on Wednesday with first quarter EPS of $1.36 on revenue of $8.29B, compared to forecast for EPS of $1.3 on revenue of $8.12B.
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