Broadcom soars after earnings beat, sunny revenue guidance

Broadcom reported better-than-expected profits and a revenue outlook to match, sending shares sharply higher in after-hours trading.

For its fiscal first quarter, the chip designer booked earnings per share of $1.60, $0.10 above the consensus estimate, along with a positive surprise for its adjusted gross margin of 79.1%. (Nvidia, on the other hand, is showing signs of softness in this metric.)

AI sales were big for Broadcom in the quarter: at $4.1 billion, this trounced the consensus…