Broadcom Surges on Strong AI Outlook, Stock Split

Broadcom shares are soaring Thursday after the chipmaker's beat-and-raise quarter and news it is splitting its stock. Here's what you need to know.

closeup of Broadcom website on laptop
(Image credit: Gabby Jones/Bloomberg via Getty Images)

Broadcom (AVGO) stock jumped more than 14% out of the gate Thursday after the chipmaker beat expectations for its fiscal second quarter, raised its full-year outlook and announced a 10-for-1 stock split. 

In the quarter ended May 5, Broadcom's revenue increased 43% year-over-year to $12.5 billion, driven by a nearly tripling of revenue in its Infrastructure Software segment to $5.3 billion. The company said earnings per share (EPS) rose 6.2% from the year-ago period to $10.96.

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Joey Solitro
Contributor

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.