Broadcom Slightly Higher After Q2 Results

Chip-maker Broadcom

released its fiscal Q2 earnings results after the closing bell on Tuesday. The company reported non-GAAP net income of $435 million or $0.72 per share, compared to $420 million, or $0.72 per share, in the year ago period. This came in well ahead of analysts' consensus EPS estimates of $0.67. Total revenue in the quarter weas $1.971 billion, a 9.7% increase from $1.796 billion last year. This also exceeded analysts' consensus revenue estimates of $1.95 billion. For the third-quarter, Broadcom sees net revenue between $2.00 billion and $2.15 billion. Currently, analysts have consensus revenue estimates of $2.11 billion for Q3. In the after hours trading session, BRCM shares have climbed a little better than 2% to $31.52.