Broadcom Inc. Q4 Profit Increases, Beats Estimates

(RTTNews) - Broadcom Inc. (AVGO) released earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $4.324 billion, or $0.90 per share. This compares with $3.524 billion, or $0.83 per share, in last year's fourth quarter.

Excluding items, Broadcom Inc. reported adjusted earnings of $6.965 billion or $1.42 per share for the period.

Analysts on average had expected the company to earn $1.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 51.2% to $14.054 billion from $9.295 billion last year.

Broadcom Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $4.324 Bln. vs. $3.524 Bln. last year. -EPS (Q4): $0.90 vs. $0.83 last year. -Revenue (Q4): $14.054 Bln vs. $9.295 Bln last year.

-Guidance: Next quarter revenue guidance: $14.6 Bln