Broadcom earnings are showing:
EPS comes in at $1.24 versus expected $1.20. BEATRevenues come in at $13.07 billion versus expected $12.96 billion BEATAdjusted EBITDA came in at $8.22 billion versus expected $7.89 billion. BEAT
Forward guidance comes in at $14 billion which is marginally lower than the 14.1 billion estimate.
Other details
Semiconductor Solutions Revenue: $7.27 billion (Expected: $7.41 billion). MISSInfrastructure Software Revenue: $5.80 billion (Expected: $5.5 billion). BEATAdjusted Operating Income: $7.95 billion (Expected: $7.73 billion). BEATAdjusted R&D Expense: $1.47 billion (Expected: $1.47 billion). METCapital Expenditure: $172 million (Expected: $140.5 million). BEAT
Despite the beat the stock is down around -3.5% at $147. The price closed at $152.82. The 100-day moving average was at $149.57. With the current price trading around $147 the price is trading after-hours below the 100-day moving average.
We will see what the price action looks like during tomorrow’s trade but right now (and the US jobs report will have an impact before the US open), the bias will be more to the downside below that key 100 day moving average level.
This article was written by Greg Michalowski at www.forexlive.com.
