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Kiplinger
Kiplinger
Business
Joey Solitro

Broadcom Surges on Strong AI Outlook, Stock Split

Broadcom VMware AVGO Susquehanna
Closeup of Broadcom website on laptop.

Broadcom (AVGO) stock jumped more than 14% out of the gate Thursday after the chipmaker beat expectations for its fiscal second quarter, raised its full-year outlook and announced a 10-for-1 stock split. 

In the quarter ended May 5, Broadcom's revenue increased 43% year-over-year to $12.5 billion, driven by a nearly tripling of revenue in its Infrastructure Software segment to $5.3 billion. The company said earnings per share (EPS) rose 6.2% from the year-ago period to $10.96.

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