Broadcom Q3 Earnings Beat Estimates, Shares Fall on Weak Q4 Guidance

Broadcom (AVGO) reported third-quarter fiscal 2024 non-GAAP earnings of $1.24 per share, beating the Zacks Consensus Estimate by 3.33% and increasing 18.1% year over year.Net revenues surged 47.3% year over year to$ 13.07 billion, surpassing the Zacks Consensus Estimate by 1.31%. The top-line growth was driven by strong demand for AI semiconductor solutions and VMware.However, AVGO shares were down more than 7% in pre-market trading following a disappointing fourth-quarter fiscal 2024 guidance. The stock ha ...