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Cloud, telecom sales drive solid Q3 for Broadcom

September 3, 2020

Via: ZDnet

Broadcom on Thursday reported better-than-expected third quarter financial results, thanks to strong demand from cloud and telecom customers.

The company’s non-GAAP diluted earnings per share came to $5.40 on revenue of $5.821 billion.

Analysts were expecting earnings of $5.24 on revenue of $5.76 billion.

“We delivered third quarter revenue results in-line with our expectations, driven by healthy demand from cloud and telecom customers, which more than offset the expected reset in wireless,” CEO Hock Tan said in a statement. “Our outlook for the fourth quarter reflects a strong anticipated ramp in wireless, as well as the continuing surge in demand for networking from cloud and telecom customers, more than offsetting expected softness in enterprise.”

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