SAN JOSE, Calif. (AP) _ Broadcom Inc. (AVGO) on Thursday reported fiscal fourth-quarter profit of $3.36 billion.

The San Jose, California-based company said it had profit of $7.83 per share. Earnings, adjusted for one-time gains and costs, were $10.45 per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $10.27 per share.

The chipmaker posted revenue of $8.93 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $8.9 billion.

For the year, the company reported profit of $11.5 billion, or $26.53 per share. Revenue was reported as $33.2 billion.

For the current quarter ending in January, 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 20% 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 $531.08, a decline of nearly 10% 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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