Broadcom's revenue last quarter and guidance for this quarter both exceeded expectations | Earnings Report Insights
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Broadcom's adjusted net revenue for the first fiscal quarter was $19.31 billion, exceeding analysts' expectations of $19.26 billion, with an adjusted earnings per share of $2.05, also above expectations. The company plans to implement a $10 billion stock repurchase program and expects second fiscal quarter revenue of approximately $22 billion, surpassing analysts' expectations of $20.53 billion. After the earnings report was released, Broadcom's stock price initially rose and then fell
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