Broadcom shares fall after weaker-than-expected forecast despite earnings beat

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Broadcom shares fall after weaker-than-expected forecast despite earnings beat
Photo: Justin Sullivan/AFP/TT

The company reported earnings per share of $3.32, compared with market expectations of $3.24, CNBC reports.

Revenue for the latest quarter amounted to $29.6 billion, beating expectations of $29.4 billion.

However, the company's forecast for the fourth quarter disappointed compared with market expectations and the stock fell approximately 4 percent in early after-hours trading.

Leading up to Thursday's report, Broadcom has had a tough period on the stock market, with $520 billion in market value erased since June.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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