Overview

• Analysts expect earnings of $1.65 per share on revenue of $15.83 billion, in line with the company’s prior revenue guidance around $15.8 billion.
• Broadcom shares were recently up about 0.8% at $304.95 ahead of the report.
• Several firms raised price targets going into the print, including Piper Sandler to $315, UBS to $345, Oppenheimer to $325, and Morgan Stanley to $357, with Benzinga citing a $345.71 consensus target.
• JPMorgan recommended upside call spreads into earnings and projects a beat-and-raise quarter, including AI revenue of $5.2 billion to $5.4 billion versus a $5.1 billion consensus.
• The company has frequently topped estimates, including last quarter’s $1.58 EPS versus $1.56 expected and $15.00 billion in revenue versus $14.99 billion expected.