Renewable Energy

EARNINGS-Broadcom's quarterly revenue misses estimates, shares fall 6%

Credit: REUTERS/SHANNON STAPLETON

Broadcom Inc on Thursday reported lower-than-expected quarterly revenue and cautioned of a broad-based slowdown in demand, driven by continued geopolitical uncertainties.

June 13 (Reuters) - Broadcom Inc AVGO.O on Thursday reported lower-than-expected quarterly revenue and cautioned of a broad-based slowdown in demand, driven by continued geopolitical uncertainties.

Net revenue rose to $5.52 billion in the second quarter ended May 5, from $5.01 billion a year earlier. Analysts had expected revenue of $5.68 billion, according to IBES data from Refinitiv.

Shares of the company fell 6% in extended trading.

(Reporting by Sayanti Chakraborty in Bengaluru; Editing by James Emmanuel)

((Sayanti.Chakraborty@thomsonreuters.com; +1-646-223-8780; Reuters Messaging: sayanti.chakraborty.thomsonreuters@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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