Avago Technologies Beats Estimates on Higher Revenues (AVGO)

Avago Technologies Beats Estimates on Higher Revenues (AVGO)


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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