Broadcom reported an earnings beat Thursday, driven by strong sales of its AI products and VMware software. But management's guidance for the current quarter disappointed investors, sending shares of the chipmaker down nearly 7% in the after market. This is too harsh of a reaction to an otherwise solid print. Revenue increased 47% year over year to $13.07 billion, beating analysts' forecasts of $12.97 billion, according to estimates compiled by LSEG, formerly Refinitiv.
9 event, when the company is expected to reveal its new AI-powered iPhone. Although Tan didn't budge his full-year wireless outlook of relatively flat year over year, this could be a conservative call and fiscal 2025 sales will be strong because Apple is about to embark on a big new upgrade cycle. Server and storage connectivity : Sales fell 25% year over year to $861 million.