Broadcom Shares Rise As Results Top Street Estimates

By Wallace WitkowskiMarketsMarketWatch Pulse

Broadcom Ltd. shares rose in the extended session Wednesday after the chipmaker's quarterly results topped Wall Street estimates for the quarter. Broadcom shares rose 3.8% to $222.97 after hours. The company reported adjusted fiscal first-quarter earnings of $3.63 a share on adjusted revenue of $4.15 billion. Analysts surveyed by FactSet had estimated $3.48 a share on revenue of $4.08 billion. Broadcom forecast adjusted second-quarter revenue of $4.1 billion, give or take $75 million, while analysts expect $3.91 billion.

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