Topics

Apple Inc.
Broadcom shares gain after profit beats expectations
Broadcom shares gain after profit beats expectations

Shares of Broadcom Corp. rose after the Irvine maker of communications chips reported earnings that beat analysts' estimates and gave a forecast that eased concern that orders might be drying up. The stock climbed $2.04, or 5.5%, to $39.37 on Wednesday, the day after the company announced third-quarter earnings. Broadcom also said revenue in the current period would be $2 billion to $2.15 billion, compared with an average estimate of $2.11 billion, according to data compiled by Bloomberg. Orders for chips that connect devices — such as Apple Inc.'s iPhone and iPad — to Bluetooth and Wi-Fi networks helped boost revenue in the third quarter, the company said. Demand...

Loading