{"id":378847,"date":"2021-12-10T00:30:00","date_gmt":"2021-12-09T21:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/earnings-results-broadcom-stock-rallies-5-on-earnings-beat-10-billion-share-buyback-program\/"},"modified":"2021-12-10T00:30:00","modified_gmt":"2021-12-09T21:30:00","slug":"earnings-results-broadcom-stock-rallies-5-on-earnings-beat-10-billion-share-buyback-program","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/earnings-results-broadcom-stock-rallies-5-on-earnings-beat-10-billion-share-buyback-program\/","title":{"rendered":"#Earnings Results: Broadcom stock rallies 5% on earnings beat, $10 billion share buyback program"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bc1d4e4f54\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bc1d4e4f54\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/earnings-results-broadcom-stock-rallies-5-on-earnings-beat-10-billion-share-buyback-program\/#New_buyback_program_lasts_until_end_of_2022_with_Broadcom_sitting_on_12_billion_in_cash\" >New buyback program lasts until end of 2022 with Broadcom sitting on $12 billion in cash<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/earnings-results-broadcom-stock-rallies-5-on-earnings-beat-10-billion-share-buyback-program\/#Wallace_Witkowski\" >Wallace Witkowski<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Earnings Results: Broadcom stock rallies 5% on earnings beat, $10 billion share buyback program<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"New_buyback_program_lasts_until_end_of_2022_with_Broadcom_sitting_on_12_billion_in_cash\"><\/span>\n  New buyback program lasts until end of 2022 with Broadcom sitting on $12 billion in cash<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\" role=\"region\" aria-label=\"article body\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000514851\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000514851\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Broadcom Inc. shares rallied in the extended session Thursday after the chip and software company topped Wall Street estimates for the quarter and announced an aggressive new share buyback program.<\/p>\n<p> Broadcom\u00a0<br \/>\n        AVGO,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200646538\/composite\" class=\"negative\">-0.87%<\/bg-quote><br \/>\n       shares surged 5% after hours, following a 0.9% decline in the regular session to close at $583.42.<\/p>\n<div class=\"paywall\">\n       The company reported fiscal fourth-quarter net income of $1.91 billion, or $4.45 a share, compared with $1.25 billion, or $2.93 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation and other items, were $7.81 a share, compared with $6.35 a share in the year-ago quarter.<\/p>\n<p>Revenue rose to $7.41 billion from $6.47 billion in the year-ago quarter. Analysts surveyed by FactSet had expected earnings of $7.74 a share on revenue of $7.36 billion, based on Broadcom\u2019s forecast revenue of about $7.35 billion.<\/p>\n<p>The company reported a 76% gain in chip sales to $5.63 billion from the year-ago period, and a 24% rise in infrastructure software sales to $1.77 billion. Analysts had forecast chip sales of $5.6 billion and infrastructure software sales of $1.73 billion.<\/p>\n<p>\u201cBroadcom concluded the year with record fourth quarter results driven by a rebound in enterprise, and continued strength from cloud and service provider demand,\u201d said Hock Tan, Broadcom president and chief executive, in a statement. \u201cOur infrastructure software growth continues to be steady with our focus on strategic customers.\u201d<\/p>\n<p>Broadcom forecast revenue of about $7.6 billion for the fiscal first quarter, while analysts had estimated revenue of $7.24 billion.<\/p>\n<p>Broadcom also said its board authorized a new $10 billion share buyback program that is effective until the end of 2022. The company reported cash and cash equivalents of $12.16 billion at the end of its fiscal year.<\/p>\n<p>Over the past 12 months, shares of Broadcom have gained 40%. In comparison, the S&amp;P 500 index\u00a0<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"negative\">-0.72%<\/bg-quote><br \/>\n       has advanced 27%,\u00a0the tech-heavy Nasdaq Composite Index\u00a0<br \/>\n        COMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598365\/realtime\" class=\"negative\">-1.71%<\/bg-quote><br \/>\n      \u00a0has risen 26%, while the PHLX Semiconductor Index\u00a0<br \/>\n        SOX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598361\/realtime\" class=\"negative\">-2.14%<\/bg-quote><br \/>\n       has grown 42% over that time.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Wallace Witkowski\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/wallace-witkowski\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/wmwitkowski\",\"text\":\"@wmwitkowski\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:wwitkowski@marketwatch.com\",\"text\":\"wwitkowski@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Wallace_Witkowski\"><\/span>Wallace Witkowski<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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