Broadcom Inc. (AVGO) Q3 Earnings and Revenues Beat Estimates

Broadcom Inc. reported quarterly earnings of $3.32 per share, beating consensus estimates of $3.22, with revenues of $29.59 billion surpassing expectations. The company has beaten EPS estimates four consecutive quarters. However, Broadcom shares have underperformed the S&P 500 year-to-date, gaining 6.8% versus the market's 11.5%. The stock holds a Zacks Rank #3 (Hold) rating with mixed estimate revisions. Ambarella, another semiconductor company, is expected to report results on September 3 with projected earnings of $0.16 per share.