Broadcom Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Broadcom Inc. (AVGO) revealed a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $3.52 billion, or $8.25 per share. This compares with $3.36 billion, or $7.83 per share, in last year's fourth quarter.

Excluding items, Broadcom Inc. reported adjusted earnings of $4.81 billion or $11.06 per share for the period.

Analysts on average had expected the company to earn $10.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.1% to $9.30 billion from $8.93 billion last year.

Broadcom Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $3.52 Bln. vs. $3.36 Bln. last year. -EPS (Q4): $8.25 vs. $7.83 last year. -Analyst Estimate: $10.98 -Revenue (Q4): $9.30 Bln vs. $8.93 Bln last year.