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Benzinga
Benzinga
Business
Dylan Berman

Broadcom Stock Is Trading Higher Friday: What's Going On?

Broadcom AVGO INC
Konskie,,Poland,-,January,03,,2024:,Broadcom,Inc,Company,Logo

Broadcom Inc. (NASDAQ:AVGO) shares are trading higher Friday after the company reported better-than-expected third quarter financial results and issued fourth quarter sales guidance above estimates on Thursday.

What To Know: The company reported adjusted earnings per share of $1.69, beating the consensus estimate of $1.65. In addition, Broadcom reported sales of $15.95 billion, beating the consensus estimate of $15.83 billion and representing a 22% year-over-year increase.

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