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By Yasin Ebrahim
Investing.com – Broadcom (NASDAQ:) hiked its quarterly dividend and introduced a $10 billion share buyback Thursday after reporting fourth-quarter that topped expectations, led by a rebound in enterprise cloud and providers demand.
Broadcom shares gained 5.58% in after-hours commerce following the report.
Broadcom introduced earnings per share of $7.81 on income of $7.41 billion. Analysts polled by Investing.com anticipated EPS of $7.74 on income of $7.35 billion.
Semiconductor options, its core enterprise, rose 17% to $5.63 billion, whereas infrastructure software program rose 8% to $1.77 billion.
The “document fourth quarter outcomes pushed by a rebound in enterprise, and continued power from cloud and repair supplier demand,” the corporate stated.
The chip maker hiked its quarterly dividend by 14% to $4.10 per share per quarter for fiscal yr 2022, and introduced a brand new $10 billion share repurchase program.
Looking forward to Q1 income was anticipated to return in at $7.6 billion, in contrast with Wall Avenue estimates for $7.22 billion.
Keep up-to-date on all the upcoming earnings reviews by visiting Investing.com’s earnings calendar
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