Broadcom's Stock Drops 5% After Weak Guidance Despite $29.6 Billion Revenue
Macro·2 articles across 2 outlets·↩ Updated
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
Broadcom reported a record $29.6 billion in quarterly revenue but provided a disappointing revenue forecast for the current quarter. This weak guidance overshadowed the earnings beat, leading to a 5% drop in the company's stock.
The fourth-quarter forecast missed analysts’ estimates, indicating that Broadcom is experiencing a slower payoff from the AI boom compared to expectations. The company's stock has struggled, gaining only 6% this year, significantly lagging behind the broader chip sector's 60% rise.
Broadcom
Sources
Every quote below is verbatim from the article it is attributed to.
SourceReports the news
“Broadcom gave a disappointing revenue forecast for the current quarter.”
CNBC — Broadcom's stock drops 5% as weak guidance overshadows earnings beat“Broadcom Inc. gave a fourth-quarter forecast that missed analysts’ estimates, a sign it’s getting a slower payoff from the AI boom than some anticipated.”
Bloomberg — Broadcom Forecast Disappoints Investors After Nvidia Blowout“Broadcom shares have gained just 6% so far this year, lagging behind the broader chip sector, which has risen 60%.”
MarketWatch — Broadcom's stock falls despite upbeat earnings, extending a frustrating stretch for investors“Broadcom beat estimates for its fiscal third quarter and with its guidance for the current period.”
IBD — Broadcom Stock Falls Despite Better-Than-Expected Fiscal Q3 Results“Broadcom's record $29.6 billion quarterly revenue failed to impress Wall Street”
quartz — Broadcom's record $29.6 billion quarterly revenue failed to impress Wall Street
SupportCorroborates it
“Broadcom Inc. has had a difficult summer in the stock market, as a disappointing outlook sent the shares on a roughly $520 billion tailspin since hitting a high in early June.”
Bloomberg — Broadcom Needs Nvidia-Like Earnings to Stop $520 Billion Skid
Earlier versions
- Sep 2, 8:29 PM — Broadcom's Stock Drops 5% As Weak Guidance Overshadows Earnings Beat (3/3)