Investing.com - Broadcom (NASDAQ:AVGO) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Broadcom announced earnings per share of $8.39 on revenue of $7.71B. Analysts polled by Investing.com anticipated EPS of $8.13 on revenue of $7.61B.
Broadcom shares are down 13.05% from the beginning of the year and are trading at $600.00 , down-from-52-week-high.They are under-performing the S&P 500 which is down 8.45% from the start of the year.
Broadcom shares gained 3.70% in after-hours trade after the report.
Broadcom follows other major Information Technology sector earnings this month
Broadcom's report follows an earnings beat by NVIDIA on Wednesday, February 16, 2022, who reported EPS of $1.32 on revenue of $7.64B, compared to forecasts EPS of $1.23 on revenue of $7.42B.
Cisco had beat expectations on Wednesday, February 16, 2022 with second quarter EPS of $0.84 on revenue of $12.72B, compared to forecast for EPS of $0.81 on revenue of $12.66B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar