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Broadcom Stock Rises on Solid Earnings Despite Broader Consumer Tech Slowdown

Broadcom Stock Rises on Solid Earnings Despite Broader Consumer Tech Slowdown

Broadcom CEO Hock Tan says the chipmaker’s financial performance has been resilient in a softening economic environment. Shares of the semiconductor company rose following the results. Broadcom (ticker: AVGO ) reported fiscal fourth-quarter adjusted earnings per share of $10.45, topping the $10.28 Wall Street consensus estimate, according to FactSet.