on Wednesday that beat analyst estimates. It also announced a 10-1 stock split, set to begin trading on a split-adjusted basis on July 15.The chipmaker said that it expected about $51 billion in sales during its fiscal 2024 year.
Broadcom reported $2.12 billion in net income during the quarter, or $4.42 per share, versus $3.48 billion in net income, or $8.15 per share, in the year-ago period. Broadcom is one of the chipmakers benefitting from the AI boom, because its devices can run the sorts of artificial intelligence applications that have enamored the tech industry. Broadcom said that $3.1 billion in sales during the quarter could be attributed to revenue from AI products.This is breaking news. Please check back for updates.
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