(Reuters) -Semiconductor agency Broadcom Inc forecast first-quarter income above Wall Street expectations on Thursday, leaning on a worldwide ramp-up in 5G know-how deployment and cloud computing.
The firm forecast present quarter income of about $7.60 billion, in comparison with analysts’ estimate of $7.25 billion, in accordance with Refinitiv information.
As the adoption of 5G know-how accelerates worldwide, it’ll seemingly increase demand for Broadcom’s radio frequency and wi-fi chips that assist units hook up with Bluetooth and Wi-Fi.
The firm additionally stands to profit from larger demand for its data-center and server chips, as hybrid working fashions and a fast shift to cloud by companies picks up in a post-pandemic world.
Broadcom posted a 15% rise in fourth-quarter income to $7.41 billion, narrowly beating a Wall Street estimate of $7.36 billion.
The firm’s web earnings rose to $1.99 billion, or $4.45 per share, within the fourth quarter, from $1.32 billion, or $2.93 per share, a 12 months earlier.
(Reporting by Akash Sriram and Eva Mathews in Bengaluru; Editing by Ramakrishnan M.)