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For the quarter, Broadcom expects revenues of $8.4 billion. The Zacks Consensus Estimate for revenues currently stands at $8.41 billion, suggesting growth of 24.01% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for earnings has remained steady at $9.62 per share over the past 30 days, indicating 38.22% growth from the figure reported in the year-ago quarter.
Broadcom’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average earnings surprise being 2.19%.
Let’s see how things have shaped up for Broadcom prior to this announcement:
Factors to Consider
Broadcom’s top line is expected to have benefited from strong demand for its networking solutions and PON fiber as well as for cable modems in the broadband market.
The strong adoption of Broadcom’s server storage solutions by hyperscalers is expected to have driven top-line growth in the to-be-reported quarter.
The robust adoption of Wi-Fi 6 and Wi-Fi 6E for access gateways, courtesy of solid demand from homes, enterprises, telcos and other service providers, is expected to have contributed to revenue growth across the broadband end market in the fiscal third quarter.
Acceleration in 5G deployment, production ramp-up and increase in radio frequency content are expected to have driven top-line growth.
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 0.00% and a Zacks Rank #3. 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:
Nutanix is scheduled to release fourth-quarter fiscal 2022 results on Aug 31. NTNX shares have been down 43% year to date compared with the Zacks Computer & Technology sector’s decline of 26.2%.
Hewlett Packard (HPE - Free Report) has an Earnings ESP of +1.05% and a Zacks Rank #3. HPE is scheduled to release third-quarter fiscal 2022 results on Aug 30.
Hewlett Packard shares have been down 12.8% year to date, outperforming the Zacks Computer & Technology sector.
Campbell Soup (CPB - Free Report) has an Earnings ESP of +0.60% and a Zacks Rank #3. It is scheduled to release fourth-quarter fiscal 2022 results on Sep 1.
CPB shares have increased 16.6% year to date, outperforming the Zacks Consumer Staples sector.
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Broadcom (AVGO) to Report Q3 Earnings: What's in the Cards?
Broadcom (AVGO - Free Report) is set to report its third-quarter fiscal 2022 results on Sep 1.
For the quarter, Broadcom expects revenues of $8.4 billion. The Zacks Consensus Estimate for revenues currently stands at $8.41 billion, suggesting growth of 24.01% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for earnings has remained steady at $9.62 per share over the past 30 days, indicating 38.22% growth from the figure reported in the year-ago quarter.
Broadcom’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average earnings surprise being 2.19%.
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 is expected to have benefited from strong demand for its networking solutions and PON fiber as well as for cable modems in the broadband market.
The strong adoption of Broadcom’s server storage solutions by hyperscalers is expected to have driven top-line growth in the to-be-reported quarter.
The robust adoption of Wi-Fi 6 and Wi-Fi 6E for access gateways, courtesy of solid demand from homes, enterprises, telcos and other service providers, is expected to have contributed to revenue growth across the broadband end market in the fiscal third quarter.
Acceleration in 5G deployment, production ramp-up and increase in radio frequency content are expected to have driven top-line growth.
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 0.00% and a Zacks Rank #3. 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:
Nutanix (NTNX - Free Report) has an Earnings ESP of +4.66% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutanix is scheduled to release fourth-quarter fiscal 2022 results on Aug 31. NTNX shares have been down 43% year to date compared with the Zacks Computer & Technology sector’s decline of 26.2%.
Hewlett Packard (HPE - Free Report) has an Earnings ESP of +1.05% and a Zacks Rank #3. HPE is scheduled to release third-quarter fiscal 2022 results on Aug 30.
Hewlett Packard shares have been down 12.8% year to date, outperforming the Zacks Computer & Technology sector.
Campbell Soup (CPB - Free Report) has an Earnings ESP of +0.60% and a Zacks Rank #3. It is scheduled to release fourth-quarter fiscal 2022 results on Sep 1.
CPB shares have increased 16.6% year to date, outperforming the Zacks Consumer Staples sector.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.