(Reuters) – Tech conglomerate Broadcom beat market estimates for first-quarter revenue on Thursday, as cloud providers continue to upgrade data centers to support artificial intelligence, helping drive demand for its advanced networking chips.
The company reported quarterly net revenue of $11.96 billion. This compares to analysts’ average estimate of $11.72 billion, according to LSEG data.
(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Krishna Chandra Eluri)
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