(Reuters) – Tech conglomerate Broadcom raised its annual revenue forecast on Wednesday, betting on higher demand for its networking equipment and custom chips from businesses investing in artificial intelligence infrastructure.
The company expects full-year revenue of about $51 billion, including contribution from VMware, compared with its prior forecast of about $50 billion. Analysts on average expect fiscal 2024 revenue at $50.42 billion, according to LSEG data.
(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shilpi Majumdar)
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