Yahoo Finance Broadcom (AVGO) to Report Q4 Earnings: What's in the Cards?
Broadcom AVGO is set to report its fourth-quarter fiscal 2022 results on Dec 8.
For the quarter, Broadcom expects revenues of $8.9 billion. The Zacks Consensus Estimate for revenues currently stands at $8.9 billion, suggesting growth of 20.10% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for earnings has remained steady at $10.27 per share over the past 30 days, indicating 31.50% growth from the figure reported in the year-ago quarter.
Broadcom’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average earnings surprise being 2.19%.
Broadcom Inc. Price and EPS Surprise
Broadcom Inc. price-eps-surprise | Broadcom Inc. Quote
Let’s see how things have shaped up for Broadcom prior to this announcement:
Factors to Consider
Broadcom’s top-line growth is expected to have benefited from strong demand for its networking solutions and PON fiber, as well as for cable modems in the broadband market.
Strong adoption of Broadcom’s server storage solutions by hyperscalers is expected to have driven top-line growth in the to-be-reported quarter.
Broadcom expects the enterprise to continue to grow at a double-digit percentage range on a year-over-year basis in the to-be-reported quarter. AVGO also expects infrastructure software revenues to sustain around mid-single-digit percentage growth on a year-over-year basis.
Robust adoption of Wi-Fi 6 and Wi-Fi 6E for access gateways, courtesy of solid demand from homes, enterprises, telcos and other service providers, is expected to have contributed to revenue growth across the broadband end market in the fiscal fourth quarter.
Acceleration in 5G deployment, production ramp-up and increase in radio frequency content is expected to have driven top-line growth.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Broadcom has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Guidewire Software GWRE has an Earnings ESP of +6.49% and a Zacks Rank #2. GWRE is scheduled to release its first-quarter fiscal 2023 results on Dec 6. You can see the complete list of today’s Zacks #1 Rank stocks here.
Guidewire shares have been down 46.8% year to date, underperforming the Zacks Computer & Technology sector’s drop of 29.3%.
MongoDB MDB has an Earnings ESP of +1.66% and a Zacks Rank #3. It is scheduled to release third-quarter fiscal 2023 results on Dec 6.
MDB shares have decreased 62.7% year to date.
Coupa Software COUP has an Earnings ESP of +71.17% and a Zacks Rank #3.
Coupa is scheduled to release its third-quarter fiscal 2023 results on Dec 12. COUP shares have been down 62.9% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Broadcom Inc. (AVGO) : Free Stock Analysis Report
Guidewire Software, Inc. (GWRE) : Free Stock Analysis Report
Coupa Software, Inc. (COUP) : Free Stock Analysis Report
MongoDB, Inc. (MDB) : Free Stock Analysis Report
