Broadcom recently unveiled its first-quarter forecasts that beat Wall Street’s expectations along with a $10 billion share buyback plan.
The company expects revenue of about $7.60 billion for the first quarter, exceeding analyst estimates of $7.25 billion. The company previously announced revenue of $7.41 billion for the fourth quarter, a 15 percent jump from analyst estimates of $7.36 billion.
On demand for the company’s products, analysts predicted strong near-term demand for Broadcom’s radio frequency and wireless chips, thanks to the demands associated with the introduction of the 5G network. Beyond the chip business, the company is also diversifying by entering the software business, where it generated $1.77 billion in fourth-quarter revenue.
For more information, read the original story in Reuters.