Broadcom Wireless Revenue Gains; Stock Up
Broadcom wireless revenue of $1.8 billion rose 21% from the year-ago quarter, “consistent with the launch of our customers’ next-generation phones during the quarter,” said CEO Hock Tan. “We expect continuing strong demand” into fiscal Q1 ending late January, he…
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told investors Thursday. Fiscal Q4 ended Oct. 31. Broadcom’s broadband revenue grew 29%. “This was driven by the continued strong growth in deployment by service providers globally” of next-generation passive optical networks with Wi-Fi 6 and 6E “access gateways,” he said. The stock closed up 8.3% Friday at $631.68.