{"id":523623,"date":"2022-12-09T00:38:00","date_gmt":"2022-12-08T21:38:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/earnings-results-broadcom-stock-rises-after-earnings-beat-dividend-hike-slight-software-miss\/"},"modified":"2022-12-09T00:38:00","modified_gmt":"2022-12-08T21:38:00","slug":"earnings-results-broadcom-stock-rises-after-earnings-beat-dividend-hike-slight-software-miss","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/earnings-results-broadcom-stock-rises-after-earnings-beat-dividend-hike-slight-software-miss\/","title":{"rendered":"#Earnings Results: Broadcom stock rises after earnings beat, dividend hike, slight software miss"},"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-6a3b5979e491d\" 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-6a3b5979e491d\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/earnings-results-broadcom-stock-rises-after-earnings-beat-dividend-hike-slight-software-miss\/#%E2%80%9CEarnings_Results_Broadcom_stock_rises_after_earnings_beat_dividend_hike_slight_software_miss%E2%80%9D\" >&#8220;Earnings Results: Broadcom stock rises after earnings beat, dividend hike, slight software miss&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/earnings-results-broadcom-stock-rises-after-earnings-beat-dividend-hike-slight-software-miss\/#Software_revenue_comes_in_at_184_billion_vs_Street_consensus_of_186_billion\" >Software revenue comes in at $1.84 billion vs. Street consensus of $1.86 billion<\/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-3\" href=\"https:\/\/buradabiliyorum.com\/en\/earnings-results-broadcom-stock-rises-after-earnings-beat-dividend-hike-slight-software-miss\/#Wallace_Witkowski\" >Wallace Witkowski<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CEarnings_Results_Broadcom_stock_rises_after_earnings_beat_dividend_hike_slight_software_miss%E2%80%9D\"><\/span>&#8220;Earnings Results: Broadcom stock rises after earnings beat, dividend hike, slight software miss&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Software_revenue_comes_in_at_184_billion_vs_Street_consensus_of_186_billion\"><\/span>\n  Software revenue comes in at $1.84 billion vs. Street consensus of $1.86 billion<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\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 crawler\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001462990\" 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-0001462990\" 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 ticked higher in the extended session Thursday after the chip and software company reported quarterly earnings and an outlook that topped Wall Street estimates \u2014 except for a slight miss on  software revenue \u2014 and hiked its dividend. <\/p>\n<p> Shares of Broadcom<br \/>\n        AVGO,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200646538\/composite\" class=\"positive\">+2.43%<\/bg-quote><br \/>\n       rose 2% after hours, following a 2.4% rise in the regular session to close at $531.08.<\/p>\n<div class=\"paywall\">\n       Broadcom reported fiscal fourth-quarter net income of $3.31 billion, or $7.83 a share, compared with $1.91 billion, or $4.45 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation and other items, were $10.45 a share, compared with $7.81 a share in the year-ago quarter.<\/p>\n<p>Revenue rose to $8.93 billion from $7.41 billion in the year-ago quarter, as chip sales rose 26% to $7.09 billion from the year-ago period, and infrastructure software sales increased by 4% to $1.84 billion.<\/p>\n<p>Analysts surveyed by FactSet had expected earnings of $10.28 a share on revenue of $8.9 billion. The Street also forecast chip sales, on average, of $7.04 billion and infrastructure software sales of $1.86 billion.<\/p>\n<p>\u201cAs we look into fiscal 2023, our increased R&amp;D investments during the preceding years position us to extend our leadership in next-generation products within the end markets we address,\u201d said Hock Tan, Broadcom\u2019s chief executive, in a statement.<\/p>\n<p>For the first quarter, Broadcom sees revenue of about $8.9 billion, compared with the Street\u2019s estimate of $8.78 billion.<\/p>\n<p>\u201cConsistent with our commitment to return cash to shareholders, we will resume our authorized share-repurchase programs for the remaining\u00a0$13 billion, and we are increasing our quarterly common stock dividend by 12% to\u00a0$4.60\u00a0per share for fiscal year 2023,\u201d said Kirsten Spears, Broadcom\u2019s chief financial officer, in a statement.<\/p>\n<p>Last year, Broadcom promised that it would follow through on $10 billion in buybacks by the end of 2022. <\/p>\n<p>Last quarter, Tan defended his positive outlook and said that end-market demand was \u201csolid\u201d for the rest of the year, forecast revenue of about $8.9 billion for the fiscal fourth quarter, and said he still expected the acquisition of VMware Inc.<br \/>\n        VMW,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209864107\/composite\" class=\"positive\">+0.97%<\/bg-quote><br \/>\n       to close before October 2023.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>In late May, Broadcom\u00a0announced its\u00a0$61 billion in cash and stock\u00a0bid for VMware, a big addition to its software holdings, which also include\u00a0Symantec\u2019s enterprise security business\u00a0and\u00a0CA Inc. Then, in July, the company said its software head, Tom Krause, was leaving the company in the middle of the deal he helped bring about to go head the private company formed from a combined Citrix Systems Inc. and Tibco Software.<\/p>\n<p>Year to date, shares of Broadcom have declined 20%. 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=\"positive\">+0.75%<\/bg-quote><br \/>\n      has fallen 17%, the 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=\"positive\">+1.13%<\/bg-quote><br \/>\n       is down 29%, and the PHLX Semiconductor Index<br \/>\n        SOX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598361\/realtime\" class=\"positive\">+2.67%<\/bg-quote><br \/>\n      \u00a0 has dropped 31%.<\/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><ufc-follow-author-widget product=\"marketwatch\" author-id=\"202_MW\" author-name=\"Wallace Witkowski\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fbroadcom-stock-rises-after-earnings-beat-dividend-hike-slight-software-miss-11670535523%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/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. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C06575-04D4-B545-7165-2CE0C594A20B%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Earnings Results: Broadcom stock rises after earnings beat, dividend hike, slight software miss&#8221; Software revenue comes in at $1.84 billion vs. Street consensus of $1.86 billion Broadcom Inc. shares ticked higher in the extended session Thursday after the chip and software company reported quarterly earnings and an outlook that topped Wall Street estimates \u2014 except&#8230;<\/p>\n","protected":false},"author":1,"featured_media":523624,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-395311\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-523623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/523623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=523623"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/523623\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/523624"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=523623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=523623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=523623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}