Broadcom
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Broadcom's sales and AI chip forecast comes in below expecations, shares tumble
Broadcom's sales and AI chip forecast comes in below expecations, shares tumble June 3 : Chipmaker Broadcom missed Wall Street expectations for second-quarter revenue on Wednesday and its top executive left a previous 2027 sales forecast unchanged, sending its shares down more than 13 per cent in extended trading. Second-quarter revenue of $22.19 billion missed estimates of $22.27 billion, as Broadcom races with Nvidia whose dominant graphics processing units remain the industry standard for...
Broadcom's revenue misses estimates as AI chip race heats up, shares tumble
Broadcom's revenue misses estimates as AI chip race heats up, shares tumble June 3 : Broadcom missed Wall Street expectations for second-quarter revenue on Wednesday, as increased competition in the custom semiconductor market hurt gains from its AI chips, sending its shares down more than 13 per cent in extended trading. Second-quarter revenue of $22.19 billion missed estimates of $22.27 billion, as Broadcom races with Nvidia whose dominant graphics processing units remain the industry...
Broadcom tumbles as revenue miss clouds AI boom bets
Broadcom tumbles as revenue miss clouds AI boom bets June 4 : Broadcom shares sank about 12 per cent in premarket trading on Thursday, a day after the company missed quarterly revenue views and disappointed investors' lofty expectations of stronger momentum from the AI boom. The chipmaker could lose more than $285 billion in market cap at the current price of $418.83, if losses hold. Broadcom vies with Nvidia, whose graphics processors remain the gold standard for AI workloads, underscoring...
Broadcom's second-quarter revenue misses estimates as competition bites
Broadcom's second-quarter revenue misses estimates as competition bites June 3 : Broadcom missed Wall Street expectations for second-quarter revenue on Wednesday, as increased competition in the custom semiconductor market hurt gains from its AI chips, sending its shares down more than 11 per cent in extended trading. Second-quarter revenue came in at $22.19 billion, missing estimates of $22.27 billion, as Broadcom races with Nvidia whose dominant graphics processing units remain the...
Micron, Marvell, and Broadcom lead chipmakers' premarket losses
Technology stocks fell in premarket trading Thursday, with chipmakers Broadcom, Micron Technology and Marvell Technology leading the losses as investors fled the semiconductor space. Broadcom shares were down 15.1% ahead of the market open after the company, which designs and makes customized AI chips for other technology names, reported weaker-than-expected earnings on Wednesday. The fall was part of a broader retreat from chipmakers and other tech stocks ahead of Thursday's market open.
Broadcom stock slip on revenue miss
Broadcom reported weaker-than-expected revenue in its fiscal second-quarter earnings report. The stock slid in extended trading. Here's how the chipmaker did versus LSEG consensus estimates: - Earnings per share: $2.44, adjusted, versus $2.40 estimated - Revenue: $22.19 billion versus $22.27 billion estimated Revenue climbed 48% from $15 billion in the same quarter a year earlier, Broadcom said in a statement.
AI giant Broadcom sheds $300bn in market value as outlook misses sky-high expectations
The American chipmaker Broadcom reported a 48% revenue surge and AI semiconductor sales up 143%, but its refusal to raise its long-term sales target sent shares tumbling more than 12% in after-hours trading. Broadcom's second-quarter results were, by almost any standard measure, exceptional. Revenue climbed 48% year-on-year to a record $22.2 billion (€19.1bn), AI chip sales more than doubled, and adjusted earnings per share rose 54% to $2.44, comfortably beating consensus estimates.
Apollo, Blackstone back Anthropic's $35 billion capacity expansion in new Broadcom tie-up
Apollo, Blackstone back Anthropic's $35 billion capacity expansion in new Broadcom tie-up June 9 : Apollo and Blackstone are financing a $35 billion expansion of AI computing capacity for Anthropic using Broadcom's custom chips and networking solutions as part of a tie-up between the asset managers and the chipmaker. The initial commitment will expand the Claude Code creator's AI computing capacity by one gigawatt, the companies said on Tuesday. One gigawatt is enough to power about 750,000...
Broadcom forecasts quarterly revenue above estimates on strong AI chip demand
Broadcom forecasts quarterly revenue above estimates on strong AI chip demand (Corrects to say adjusted profit beat estimates, not trailed, in paragraph 7) June 3 : Broadcom forecast third-quarter revenue above Wall Street expectations on Wednesday, betting on robust demand for its custom AI chips and networking gear. However, shares of the Palo Alto, California-based company fell more than 2 per cent in extended trading.
Emerging-Market Stocks Fall as Broadcom Miss Disrupts AI Trade
The Broadcom website on a smartphone arranged in New York, US, on Friday, Aug. 18, 2023. Broadcom Inc. is scheduled to release earnings figures on August 31.