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Will Broadcom (AVGO) Stock Be Helped by Solid Q3 Results?

NEW YORK (TheStreet) -- Broadcom (AVGO) posted higher-than-expected earnings and revenue for the fiscal 2016 third quarter after Thursday's market close.

The chipmaker reported adjusted earnings of $2.89 per diluted share, which topped analysts' estimates of $2.77 per share.

Revenue of $3.79 billion beat Wall Street's projections of $3.76 billion.

Sales spiked 119% year-over-year primarily due to Avago's acquisition of the Singapore-based company in February 2016.

For the fiscal fourth quarter, Broadcom projects revenue between $4.015 billion and $4.165 billion. Analysts...


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