Broadcom Reports $1.88 Billion Net Loss in Quarterly Earnings Update

Broadcom Inc. [AVGO] reported a net loss of $1.88 billion for the third quarter of fiscal year 2024, which ended on August 4, 2024. This figure represents a change from the net income of $3.30 billion recorded in the previous quarter.

The company, headquartered in Palo Alto, California, reported to SEC in an 8-K filing $-0.40 earnings per share in the quarter, compared to $0.77 in the previous quarter.

Broadcom Inc., a key player in the technology sector, reported a robust revenue of $13.07 billion. This marked a significant increase from the previous quarter's revenue of $8.88 billion, showcasing substantial growth in the company's financial performance.

In comparison to the same quarter in the previous year, Broadcom Inc. experienced a notable growth in revenue, with an increase from $8.88 billion to $13.07 billion. This demonstrates a positive trend in the company's revenue performance over the year.