Broadcom Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Broadcom Inc. (AVGO) revealed earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $4.97 billion, or $1.03 per share. This compares with $2.12 billion, or $0.44 per share, last year.

Excluding items, Broadcom Inc. reported adjusted earnings of $7.79 billion or $1.58 per share for the period.

Analysts on average had expected the company to earn $1.57 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 20.2% to $15.004 billion from $12.487 billion last year.

Broadcom Inc. earnings at a glance (GAAP) :

-Earnings: $4.97 Bln. vs. $2.12 Bln. last year. -EPS: $1.03 vs. $0.44 last year. -Revenue: $15.004 Bln vs. $12.487 Bln last year.

-Guidance: Next quarter revenue guidance: $15.8 Bln