Broadcom slips on downbeat quarterly revenue forecast - AVGO News | RalliesBroadcom slips on downbeat quarterly revenue forecast
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AVGO• Broadcom shares fall after weaker revenue outlook
- Broadcom's shares fell nearly 3% to $356 in extended trading
- The company forecasts quarterly revenue below Wall Street estimates, signaling intense competition could hamper gains from its custom processors
- Expects Q4 revenue of about $34.8 billion, compared with analysts' average estimate of $35.03 billion, according to data compiled by LSEG
- Q3 AI chip sales more than tripled to $16.7 billion, lifting Broadcom's total revenue to $29.59 billion
- Q3 adjusted profit per share of $3.32 beats the estimate of $3.24
- Up to last close, the stock was up about 6% year to date
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