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The Zacks Consensus Estimate for revenues is pegged at $11.72 billion, suggesting growth of 31.46% from the year-ago quarter’s reported figure.
The consensus mark for earnings has been unchanged at $10.25 per share over the past 30 days, indicating a 0.77% decline from the figure reported in the year-ago quarter.
Broadcom’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average earnings surprise being 1.43%.
Let’s see how things have shaped up for Broadcom prior to this announcement:
Factors to Consider
Broadcom’s top-line growth is expected to have benefited from strong demand for its networking solutions due to the rapid adoption of generative AI. This is expected to have driven networking’s top-line growth in the to-be-reported quarter.
VMware’s addition is expected to have driven top-line growth in the fiscal first quarter. VMware’s strong partner base, which includes the likes of NVIDIA, is noteworthy.
However, challenging macroeconomic conditions are expected to have hurt Broadcom’s top-line growth in the to-be-reported quarter.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Broadcom has an Earnings ESP of -0.04% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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Broadcom (AVGO) to Report Q1 Earnings: What's in the Cards?
Broadcom (AVGO - Free Report) is set to report its first-quarter fiscal 2024 results on Mar 7.
The Zacks Consensus Estimate for revenues is pegged at $11.72 billion, suggesting growth of 31.46% from the year-ago quarter’s reported figure.
The consensus mark for earnings has been unchanged at $10.25 per share over the past 30 days, indicating a 0.77% decline from the figure reported in the year-ago quarter.
Broadcom’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average earnings surprise being 1.43%.
Broadcom Inc. Price and EPS Surprise
Broadcom Inc. price-eps-surprise | Broadcom Inc. Quote
Let’s see how things have shaped up for Broadcom prior to this announcement:
Factors to Consider
Broadcom’s top-line growth is expected to have benefited from strong demand for its networking solutions due to the rapid adoption of generative AI. This is expected to have driven networking’s top-line growth in the to-be-reported quarter.
VMware’s addition is expected to have driven top-line growth in the fiscal first quarter. VMware’s strong partner base, which includes the likes of NVIDIA, is noteworthy.
However, challenging macroeconomic conditions are expected to have hurt Broadcom’s top-line growth in the to-be-reported quarter.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Broadcom has an Earnings ESP of -0.04% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
The Gap (GPS - Free Report) has an Earnings ESP of +54.71% and a Zacks Rank #1. You can find the complete list of today’s Zacks #1 Rank stocks here.
GPS shares have gained 45.3% year to date. The Gap is set to report its fourth-quarter fiscal 2023 results on Mar 7.
Semrush (SEMR - Free Report) has an Earnings ESP of +23.08% and currently has a Zacks Rank #2.
Semrush is set to announce fourth-quarter 2023 results on Mar 4. SEMR shares have declined 7.6% year to date.
Guidewire (GWRE - Free Report) has an Earnings ESP of +4.76% and a Zacks Rank #3 at present.
Guidewire is set to announce second-quarter fiscal 2024 results on Mar 7. GWRE’s shares have increased 10.3% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.