Broadcom Inc. (AVGO) is expected to report a year-over-year increase in earnings and higher revenue for the quarter ended April 2024. The consensus outlook is important for assessing the company’s earnings outlook, and investors are eagerly anticipating the earnings report expected on June 12, 2024. Key numbers from this report will likely influence the stock price in the near term.
Analysts expect Broadcom to post quarterly earnings of $10.79 per share, a 4.6% increase from the previous year, with revenue expected to reach $12.04 billion, up 37.9% from the same quarter last year. Analysts have revised their EPS estimate higher over the past 30 days, indicating positive sentiment about the company’s earnings prospects.
The Zacks Earnings ESP model predicts potential surprises in earnings based on the Best Estimate compared to the Zacks Consensus Estimate. A positive Earnings ESP combined with a strong Zacks Rank (1, 2, or 3) is a good indicator of a potential earnings beat, which has been the case for Broadcom Inc. In the last reported quarter, the company surpassed earnings estimates, and has done so consistently over the past four quarters.
While earnings are an important factor for stock performance, other factors can also influence stock movement. It’s crucial for investors to consider all aspects of a company before making investment decisions. Keep an eye on upcoming earnings announcements and utilize tools like the Zacks Earnings Calendar to stay informed about potential investment opportunities.
In conclusion, Broadcom Inc. appears to be a promising candidate to beat earnings expectations based on current estimates and historical performance. However, investors should conduct thorough research and consider various factors before making investment decisions related to this stock.
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