Broadcom shares rise 13% on profit beat, 'massive' opportunity in AI
Broadcom CEO Hock Tan.Lucas Jackson | ReutersBroadcom reported better-than-expected fourth-quarter earnings on Thursday and said artificial intelligence revenue for the year more than tripled. The chipmaker's stock jumped after Broadcom CEO Hock Tan said the company is developing custom AI chips with three large cloud customers. The shares were up 13% in extended trading.Here's how Broadcom did versus LSEG consensus estimates for the quarter ending Nov. 3:Earnings per share: $1.42, adjusted vs. ...
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