Broadcom rises as Q1 results, guidance top Wall Street estimates
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Broadcom (NASDAQ:AVGO) shares rose in extended-hours trading on Thursday after the semiconductor giant reported first-quarter results and guidance that topped expectations.
For the period ending January 29, Broadcom (AVGO) earned $10.33 per share as revenue rose 16% year-over-year to come in at $8.92B. Included in that was $7.11B from semiconductor solutions.
Analysts were expecting the communication chipmaker to earn $10.17 per share and generate $8.9B in revenue. 
Looking ahead to the second-quarter, Broadcom (AVGO) expects revenue to be approximately $8.7B with adjusted EBITDA margin of 64.5%. Analysts are expecting $8.58B in sales.
Broadcom (AVGO) also declared its quarterly dividend of $4.60 per share.
The company will hold a conference call at 5 p.m. EST to discuss the results.
Recent reports have indicated that the European Union may issue an antitrust warning about Broadcom's (AVGO) deal to acquire VMware.