By Denny Jacob


Broadcom Inc. posted better-than-expected profit in the latest quarter, which the semiconductor company credited to demand across cloud, service providers and enterprise.

The San Jose, Calif., company posted net income of $3.07 billion, or $7.15 a share, for the three months ended July 31, compared with net income of $1.88 billion, or $4.20 a share, a year earlier. Adjusted earnings were $9.73 a share, above analysts' expectations of $9.56 a share.

Revenue rose to $8.46 billion from $6.78 billion. Analysts polled by FactSet expected $8.41 billion.

Broadcom guided for fourth-quarter revenue of about $8.9 billion, above analysts' expectations of $8.77 billion.

"We expect solid demand across our end markets to continue in the fourth quarter," Chief Executive Hock Tan said.


Write to Denny Jacob at denny.jacob@wsj.com


(END) Dow Jones Newswires

09-01-22 1645ET