Broadcom (AVGO) reported fiscal fourth quarter earnings that topped analyst estimates. Adjusted earnings of $11.06 per share topped expectations of $10.93, while revenue of $9.3 billion was in line with estimates. CEO Hock Tan says the results were "driven by investments in accelerators and network connectivity for AI by hyperscalers." The company recently completed its acquisition of VMware, which Tan calls "transformational" in the release. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Artificial Intelligence. A groundbreaking innovation for humanity that has seemingly seeped into every conversation across a wide range of companies. With so much buzz around this topic, how are investors supposed to sift through what is useful and what is fluff? Nancy Tengler, Laffer Tengler Investments CEO & CIO joins Yahoo Finance to breakdown two stocks that have Wall Street talking: Broadcom (AVGO) and Interpublic Group of Companies (IPG). Tengler gives extensive insight to both companies, commenting that Broadcom has recently received a debt rating upgrade from S&P Global, shows strong capital return, with dividend increases to shareholders, and are actively expanding company exposure to AI. IPG, on the other hand, seems more defensive on AI, with a weak 2024 revenue outlook, and concerns about organic revenue growth, Tengler argues. For more Good Buy or Goodbye, be sure to click here Click here to watch the full interview on the Yahoo Finance YouTube page or you can watch this full episode of Yahoo Finance Live here.
At this time, for opening remarks and introductions, I would like to turn the call over to Ji Yoo, head of investor relations of Broadcom Inc. The floor is yours. Joining me on today's call are Hock Tan, president and CEO; Kirsten Spears, chief financial officer; and Charlie Kawwas, president, semiconductor solutions group. Broadcom distributed a press release and financial tables after the market closed, describing our financial performance for the fourth quarter and fiscal year 2023.