Broadcom Inc. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Broadcom Inc. (AVGO) reported earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $2.12 billion, or $4.42 per share. This compares with $3.48 billion, or $8.15 per share, in last year's second quarter.

Excluding items, Broadcom Inc. reported adjusted earnings of $5.39 billion or $10.96 per share for the period.

Analysts on average had expected the company to earn $10.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 43.1% to $12.49 billion from $8.73 billion last year.

Broadcom Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $2.12 Bln. vs. $3.48 Bln. last year. -EPS (Q2): $4.42 vs. $8.15 last year. -Revenue (Q2): $12.49 Bln vs. $8.73 Bln last year.

-Guidance: Full year revenue guidance: $51.0 billion