SAN JOSE, Calif. (AP) _ Broadcom Inc. (AVGO) on Thursday reported fiscal third-quarter profit of $3.07 billion.

The San Jose, California-based company said it had net income of $7.15 per share. Earnings, adjusted for one-time gains and costs, were $9.73 per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $9.62 per share.

The chipmaker posted revenue of $8.46 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $8.41 billion.

For the current quarter ending in October, Broadcom Inc. said it expects revenue in the range of $8.9 billion. Analysts surveyed by Zacks had expected revenue of $8.76 billion.

Broadcom Inc. shares have dropped 26% since the beginning of the year, while the S&P's 500 index has declined 17%. In the final minutes of trading on Thursday, shares hit $492.01, decreasing slightly 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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