Investing.com – Broadcom (NASDAQ:) reported on Thursday first quarter that missed analysts’ forecasts and revenue that fell short of expectations.
Broadcom announced earnings per share of $5.25 on revenue of $5.86B. Analysts polled by Investing.com anticipated EPS of $5.34 on revenue of $6B. That with comparison to EPS of $5.55 on revenue of $5.79B in the same period a year before. Broadcom had reported EPS of $5.39 on revenue of $5.78B in the previous quarter. Analysts are expecting EPS of $5.39 and revenue of $5.98B in the upcoming quarter.
Broadcom shares are down 31.09% from the beginning of the year , still down 34.32% from its 52 week high of $331.58 set on January 24. They are under-performing the which is down 17.48% year to date.
Broadcom shares gained 0.15% in after-hours trade following the report.
Broadcom follows other major Technology sector earnings this month
Broadcom’s report follows an earnings beat by Cisco on February 12, who reported EPS of $0.77 on revenue of $12.01B, compared to forecasts EPS of $0.76 on revenue of $11.97B.
Adobe had beat expectations on Thursday with first quarter EPS of $2.27 on revenue of $3.09B, compared to forecast for EPS of $2.23 on revenue of $3.05B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar