SAN JOSE, Calif. (AP) _ Broadcom Inc. (AVGO) on Thursday reported fiscal second-quarter earnings of $563 million.

On a per-share basis, the San Jose, California-based company said it had profit of $1.17. Earnings, adjusted for non-recurring costs and stock option expense, came to $5.14 per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $5.13 per share.

The chipmaker posted revenue of $5.74 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $5.7 billion.

For the current quarter ending in August, Broadcom Inc. said it expects revenue in the range of $5.6 billion to $5.9 billion. Analysts surveyed by Zacks had expected revenue of $5.84 billion.

Broadcom Inc. shares have dropped slightly more than 2% since the beginning of the year, while the Standard & Poor's 500 index has decreased almost 4%. In the final minutes of trading on Thursday, shares hit $308.89, an increase of 16% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVGO at https://www.zacks.com/ap/AVGO

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