U.S. Markets close in 4 hrs 29 mins

Broadcom Tops Q1 Earnings, Sees $12 Billion in Shareholder Returns in 2019

Martin Baccardax

posted stronger than expected first quarter earnings after the close of trading Thursday and said it would return around $12 billion to stockholders this year through dividends and stock buy backs. Broadcom said earnings for the three months ending on February 3, the company's fiscal first quarter, came in at $5.55 per share, up 8.4% from the same period last year and well ahead of the Street forecast of $5.22 per share. Group net revenues, Broadcom said, were pegged at $5.789 billion, up 8.7% from the previous year period but just shy of the consensus forecast of $5.82 billion.