Broadcom Inc (AVGO.O) forecast current-quarter revenue above Wall Street expectations on Thursday, as the semiconductor firm is set to benefit from the rising adoption of 5G technology.
The Broadcom Limited company logo is shown outside one of their office complexes in Irvine, California, U.S., March 4, 2021. REUTERS/Mike Blakeforecast current-quarter revenue above Wall Street expectations on Thursday, as the semiconductor firm is set to benefit from the rising adoption of 5G technology.
He also said that long-term supply contracts such as the one with Apple give Broadcom "the confidence to invest in R&D to make capacity investment. And in return, we offer the best leading-edge technology in specific areas in a timely manner to our critical customers." Revenue rose to $6.61 billion in the second quarter ended May 2, from $5.74 billion a year earlier. Analysts had expected revenue of $6.51 billion.
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