Broadcom Inc. (NASDAQ:AVGO) shares rose more than 5% on Friday following the company’s reported Q2 results, with revenue coming in at $8.1 billion, compared to the consensus estimate of $7.9 billion. Quarterly EPS was $9.07, beating the consensus estimate of $8.70.
The company provided impressive Q3 guidance (estimated revenue of $8.4 billion, vs. Street’s $8.01 billion) as its leadership position in a wide array of products across Infrastructure segments helped it to buck volatility from consumer segments, while it doubled down on the scale of the Infrastructure Software segment with the announcement of VMware acquisition.
According to Deutsche Bank analysts, the company’s Infrastructure franchise strength is highlighted in the print/guide and would be further bolstered by the VMware acquisition yielding approximately 10-15% accretion post integration.