Here's Why Broadcom Shares Are Moving

Broadcom Inc AVGO shares are trading higher by 4.16% to $512.47 Friday morning after the company reported better-than-expected third-quarter EPS and sales results and issued fourth-quarter sales guidance above estimates.

What Happened?

Broadcom said fiscal third-quarter revenue jumped 25% year-over-year to $8.46 billion, which beat average analyst estimates of $8.37 billion, according to Benzinga Pro. The company reported quarterly earnings of $9.73 per share, which beat average analyst estimates of $9.56 per share. 

Broadcom ended the quarter with $9.97 billion in cash and equivalents. The company said it spent $1.79 billion on share repurchases during the quarter...Read More

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According to data from Benzinga Pro, Broadcom has a 52-week high of $677.76 and a 52-week low of $463.91.