Broadcom’s revenue grew 48% year over year
Broadcom’s latest earnings report showed record revenue, with a 48% year-over-year increase. The company’s artificial intelligence semiconductor revenue saw a significant surge of 143%, with $30 billion in bookings.
The company’s management expects semiconductor revenue to grow 200% year over year to $16 billion. Despite beating Wall Street’s expectations, the stock sank due to missing analysts’ earnings-per-share whisper number by a slim margin.
The company’s stock is up more than 60% in the past 12 months, and its fundamentals remain strong. The recent decline in stock price is seen as an irrational overreaction to short-term noise.
The company remains a worthy investment, with a strong outlook for future growth.