TMTB: AVGO First Takes

AVGO -4%: Revs/Eps in lineish with expects, but Q4 revs misses buyside bogey

Q4 revs guide of $14B vs buyside at $14.2B and street at $14.13B
Q4 EBITDA guide of 64% vs street at 63%.

AI target raised to $12B for FY24 although some maybe wanted a “$12B+”

Q3 Details
- ADJ EPS $1.24, EST $1.22
- ADJ net revenue $13.07B, EST $13.03B
- Semiconductor solutions revenue $7.27B, EST $7.41B
- Infrastructure software revenue $5.80B, EST $5.5B
- ADJ EBITDA $8.22B, EST $7.95B
- ADJ operating income $7.95B, EST $7.73B
- Adj. R&D expense $1.47B, EST $1.47B
- Capital expenditure $172M, EST $140.5M