On Thursday evening, Broadcom reported fiscal fourth-quarter earnings that exceeded expectations, while the chipmaker's revenue fell short of Wall Street forecasts. The company's adjusted earnings increased to $1.42 per share for the quarter ending November 3, up from $1.11 a year earlier, surpassing the FactSet-pollled consensus of $1.39.
Despite this gain, revenue rose by 51% to reach $14.05 billion, slightly below the anticipated $14.07 billion from analysts. The infrastructure software division experienced substantial growth, nearly tripling year-over-year with revenues hitting $5.82 billion, while the semiconductor solutions segment saw a 12% increase to $8.23 billion.
Additionally, Broadcom made headlines by acquiring multi-cloud services provider VMware at the end of November 2023. For the fiscal first quarter, the company forecasts total revenue of $14.6 billion, which aligns with the consensus estimate of $14.55 billion. Broadcom also announced an 11% increase in its quarterly dividend to $0.59 per common share, set to be paid on December 31 to stockholders of record on December 23.
After the announcement, shares rose by 4% in after-hours trading..