Broadcom Inc (AVGO) released its second quarter results on Friday, June 4, 2021. The company reported net earnings of $3.46 per share for the second quarter ending April 30, 2021. Earnings for this past quarter were up 196 percent compared to the same period a year ago.
The company was incorporated in 2018 and is based in San Jose, California. Broadcom Inc. designs, develops, and supplies semiconductor infrastructure software solutions. It offers semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide.
Broadcom's revenue increased 12 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 76.72% for the second quarter compared to the same period in the previous year, and operating margins increased to 30.71% over the same period. Net earnings for past trailing twelve months were $4586.0 million, up 97% from the prior year.
Moving on to the balance sheet, Broadcom's cash levels jumped 3% for the second quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 2.73% this past year. The current ratio for Broadcom now stands at 2.21. The company increased shares outstanding by 2.15%.
Shares of AVGO are currently trading around $475.00. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 43.59 and price to book ratio of 8.51.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Saturday, June 5, 2021.