Broadcom forecasts lukewarm quarterly revenue despite AI chip surge, shares fall
The Star Online - Tech·2024-09-06 19:07
(Reuters) -Chipmaker Broadcom forecast fourth-quarter revenue slightly below Wall Street expectations on Thursday, hurt by sluggish spending in its broadband segment.
Despite a sharp rise in orders for its artificial intelligence chips, shares fell nearly 5% in extended trading.
California-based Broadcom expects revenue of around $14 billion, while analysts polled by LSEG expected $14.04 billion.
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