Broadcom expects current quarter revenue above estimates

The recovery in business spending and the increase in cloud computing applications have benefited Broadcom, which provides chips for storage in data centers, servers, networking equipment and broadband devices.

On the other hand, the company, which counts Apple Inc. among its main customers, should benefit from the global deployment of 5G, which should stimulate demand for its chips used in handsets, telecommunications equipment and other devices.

The company expects revenue of about $7.9 billion in the current quarter, compared to an average analyst estimate of $7.43 billion, according to IBES data from Refinitiv.

Adjusted revenue for the quarter ended Jan. 30 was $7.71 billion. Analysts had forecast an average turnover of 7.60 billion dollars.

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