Broadcom forecasts lukewarm quarterly revenue despite AI chip surge, shares fall
Despite a sharp rise in orders for its artificial intelligence chips, shares fell nearly 5% in extended trading.
Broadcom reported third-quarter revenue of $13.07 billion, beating estimates of $12.97 billion, according to LSEG data. The company raised its forecast for annual AI revenue to $12 billion, up from its earlier expectation of $11 billion, as it benefits from strong demand for its custom chips.
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