Broadcom Reports Strong 1Q Earnings

Broadcom is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Broadcom’s first-quarter profits missed Wall Street forecasts on deal-related costs as strong demand for AI-related products boosted semiconductor sales. The chip and software company said sales for the quarter were $11.96 billion, up 34% from the year before, because of its acquisition of software-maker VMware. The company made $1.33 billion in profit in the quarter, down from $3.78 billion the same period a year earlier and behind the expectations of a FactSet survey of analysts. Dow Jones & Co. owns Factiva.

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