When Broadcom ( NASDAQ: AVGO ) reports its fiscal first-quarter results after Thursday's stock market close, there will be the standard attention given to the communication chipmaker's earnings and revenue figures.
Wall Street analysts currently estimate that Broadcom ( AVGO ) will report a profit of $10.17 a share, on sales of $8.9B for the quarter that ended in January. During the year-ago period, Broadcom ( AVGO ) earned $8.39 a share, on revenue of $7.7B.
Analysts expect Broadcom ( AVGO ) to say business was strong with regards to its networking devices, storage products and chips used in mobile phone and WiFi systems. Seeking Alpha author Michael Fitzsimmons noted that Broadcom ( AVGO ) should please Wall Street, as the company managed to grow its revenue by 21% in its 2022 fiscal year during what was a largely negative period for most of the tech sector.
However, investors are also likely to give a lot of their attention toward anything Broadcom ( AVGO ) has to say about the state of its $61B acquisition of VMware ( VMW ). Broadcom ( AVGO ) announced the deal in May 2022, and recently, reports have arisen about the European Union possibly issuing an antitrust warning about the deal .
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Broadcom earnings expected to rise as chipmaker faces VMware deal issues