Investing.com - Broadcom (NASDAQ:AVGO) reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Broadcom announced earnings per share of $5.25 on revenue of $5.86B. Analysts polled by Investing.com anticipated EPS of $5.34 on revenue of $6B. That with comparison to EPS of $5.55 on revenue of $5.79B in the same period a year before.Broadcom had reported EPS of $5.39 on revenue of $5.78B in the previous quarter.Analysts are expecting EPS of $5.39 and revenue of $5.98B in the upcoming quarter.
Broadcom shares are down 31.09% from the beginning of the year and are trading at $218.10 , down-from-52-week-high.They are under-performing the Nasdaq 100 which is down 17.48% year to date.
Broadcom shares gained 0.15% in after-hours trade following the report.
Broadcom follows other major Technology sector earnings this month
Broadcom's report follows an earnings beat by Cisco on Wednesday, February 12, 2020, who reported EPS of $0.77 on revenue of $12.01B, compared to forecasts EPS of $0.76 on revenue of $11.97B.
Adobe had beat expectations on Thursday with first quarter EPS of $2.27 on revenue of $3.09B, compared to forecast for EPS of $2.23 on revenue of $3.05B.
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