Broadcom surpassed first-quarter earnings expectations and provided strong guidance for the current quarter.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Broadcom surpassed first-quarter earning expectations and provided strong guidance
00:06for the current quarter. The company's AI business has driven its recent surge,
00:10with its stock price more than doubling last year. It plays a key role in AI data center
00:15infrastructure, supplying components for Google's custom AI chips, and networking thousands of chips
00:21for advanced AI software. CEO Hawk Tan expects continued growth in AI semiconductor revenue,
00:28projecting an increase of over $4 billion in the second quarter.
00:31Shares surged 16% in Thursday's after-hour trading.