Broadcom Forecasts Higher Fourth-Quarter Sales With 5G Bet

Share post:

Broadcom Inc forecast fourth-quarter revenue above Wall Street on Thursday after growing demand for its 5G semiconductors and the shift to a hybrid work model.

The company’s wireless division is also benefiting from the latest iPhones, which are due to hit the market this month.

Analysts have noted that the switch to 5G may possibly boost demand for Broadcom’s radio frequency and wireless chips, which enable devices to connect to Bluetooth and Wi-Fi.

Broadcom expects revenue of about $7.35 billion for the current quarter, compared with analyst estimates of $7.23 billion, according to IBES data from Refinitiv.

Revenue for the third quarter ended August 1 rose 16% to $6.78 billion, beating expectations of $6.76 billion.

The company also makes chips for data centers and servers, meaning that rapid migration to the cloud and a rebound in corporate spending will boost Broadcom’s revenue in a post-pandemic world, as many companies opt for a hybrid business model.

For more information, view the original story from Reuters.

Featured Tech Jobs


Related articles

Google Play introduces new biometric verification with a user warning

Google has recently announced updates to the biometric verification process for Google Play purchases, aiming to bolster security...

Early adopters returning Apple Vision Pro headsets

Apple's Vision Pro headset has encountered a rocky start with early adopters, leading to a notable number of...

Apple Vision Pro turning up in unusual and unsafe usage

The Apple Vision Pro, Apple's latest foray into the realm of mixed reality, has taken the market by...

Google release fix for Pixel bug but requires developer level skills and tools to execute

Google has released a fix for a major storage bug affecting Pixel phones, which was reportedly caused by...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways