Broadcom earnings expected to rise as chipmaker faces VMware deal issues
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When Broadcom (NASDAQ:AVGO) reports its fiscal first-quarter results after Thursday's stock market close, there will be the standard attention given to the communication chipmaker's earnings and revenue figures.
Wall Street analysts currently estimate that Broadcom (AVGO) will report a profit of $10.17 a share, on sales of $8.9B for the quarter that ended in January. During the year-ago period, Broadcom (AVGO) earned $8.39 a share, on revenue of $7.7B.
Analysts expect Broadcom (AVGO) to say business was strong with regards to its networking devices, storage products and chips used in mobile phone and WiFi systems. Seeking Alpha author Michael Fitzsimmons noted that Broadcom (AVGO) should please Wall Street, as the company managed to grow its revenue by 21% in its 2022 fiscal year during what was a largely negative period for most of the tech sector.
However, investors are also likely to give a lot of their attention toward anything Broadcom (AVGO) has to say about the state of its $61B acquisition of VMware (VMW). Broadcom (AVGO) announced the deal in May 2022, and recently, reports have arisen about the European Union possibly issuing an antitrust warning about the deal.