SAN JOSE, Calif. (AP) _ Broadcom Inc. (AVGO) on Thursday reported fiscal first-quarter earnings of $1.38 billion.

On a per-share basis, the San Jose, California-based company said it had profit of $3.05. Earnings, adjusted for non-recurring costs and stock option expense, came to $6.61 per share.

The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $6.55 per share.

The chipmaker posted revenue of $6.66 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $6.61 billion.

For the current quarter ending in May, Broadcom Inc. said it expects revenue in the range of $6.5 billion. Analysts surveyed by Zacks had expected revenue of $6.32 billion.

Broadcom Inc. shares have increased slightly more than 1% since the beginning of the year, while the S&P's 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $443.59, a climb of 55% in the last 12 months.

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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