Broadcom's revenue last quarter and guidance for this quarter both exceeded expectations | Financial Report Update

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Broadcom's adjusted net revenue for the first fiscal quarter was $19.31 billion, compared to analysts' expectation of $19.26 billion.
The adjusted earnings per share (EPS) for the first fiscal quarter was $2.05, compared to analysts' expectation of $2.03.
Revenue from semiconductor solutions for the first fiscal quarter was $12.52 billion, compared to analysts' expectation of $12.31 billion.
The company plans to implement a new stock buyback program, up to $10 billion, approved by the board of directors.
Second fiscal quarter revenue is expected to be around $22 billion, compared to analysts' expectation of $20.53 billion.
The ratio of adjusted EBITDA to estimated revenue for the second fiscal quarter is expected to be about 68%.

After the financial report was released, Broadcom's stock price rose more than 1% in after-hours trading on Wednesday, then turned lower.

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