Broadcom Reports Strong Q2 Earnings But Misses Guidance, Triggering Sharp Stock Decline
Despite beating revenue and earnings estimates in its fiscal second-quarter with AI semiconductor sales up 143% year-over-year, Broadcom (NASDAQ:AVGO) missed guidance by $1.2 billion, leading to a roughly 14% drop in premarket trading. The stock had surged 63% over two months before the decline.
Topics: AI semiconductors stock market reaction