SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Broadcom Inc. (AVGO) on Thursday reported fiscal fourth-quarter net income of $3.52 billion.
The San Jose, California-based company said it had net income of $8.25 per share. Earnings, adjusted for amortization costs and stock option expense, were $11.06 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $10.95 per share.
The chipmaker posted revenue of $9.3 billion in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $9.28 billion.
For the year, the company reported profit of $14.08 billion, or $32.98 per share. Revenue was reported as $35.82 billion.
Broadcom Inc. expects full-year revenue of $50 billion.
Broadcom Inc. shares have risen 65% since the beginning of the year, while the S&P's 500 index has increased 19%. In the final minutes of trading on Thursday, shares hit $922.26, a climb of 78% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVGO at https://www.zacks.com/ap/AVGO