Broadcom Announces Strong Q2 Earnings and 10-for-1 Stock Split Plan

Broadcom, a leading chipmaker, exceeded analysts’ estimates in its second fiscal quarter earnings report, prompting a 10-for-1 stock split. The company’s stock surged 10% in after-hours trading, reflecting investor confidence. Key figures include earnings per share of $10.96 and revenue of $12.49 billion. Broadcom anticipates sales of $51 billion for fiscal 2024, driven by AI products and collaborations with tech giants like Google. CEO Hock Tan emphasized the demand for AI accelerators and highlighted revenue contributions from VMware. With a 43% year-over-year revenue surge, Broadcom solidifies its position in the semiconductor industry.