Avago Technologies Beats Estimates on Higher Revenues (AVGO)

Avago Technologies Beats Estimates on Higher Revenues (AVGO)

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After the bell on Tuesday, Avago Technologies Ltd. (AVGO) announced its third quarter earnings, posting net revenues of $644 million, which were up 6% from last year’s Q3.

The Singapore-based semiconductor company announced non-GAAP quarterly earnings of $188 million, or 74 cents per diluted share, which were up from last year’s Q3 earnings of $182 million, or 72 cents per share.

Analysts were expecting the company to announce EPS of 61 cents on revenues of $622.78 million.

AVGO’s stock was down 92 cents, or 2.52%, at market close on Tuesday, but was up more than $2 in after-market trading. YTD, the company’s stock is up over 15%.

The Bottom Line

Shares of Avago Technologies Ltd. (AVGO) have a dividend yield of 2.3% based on Tuesday’s closing price of $36.56 an the annualized dividend payout of 84 cents.

Avago Technologies Ltd. (AVGO) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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