04:50 PM EST, 03/07/2024 (MT Newswires) -- Broadcom ( AVGO ) reported Q1 non-GAAP earnings late Thursday of $10.99 per diluted share, up from $10.33 a year earlier.

Analysts polled by Capital IQ expected $10.42.

Revenue for the quarter ended Feb. 4 was $11.96 billion, up from $8.92 billion a year earlier.

Analysts expected $11.72 billion.

For fiscal 2024, the company reiterated its forecast projecting around $50 billion in revenue.

Analysts are looking for revenue of $50.01 billion this year.

Broadcom ( AVGO ) said it maintained its quarterly dividend at $5.25 per share, payable March 29 to investors of record on March 21.

The shares of the company were down more than 3% in after-hours trading.

Price: 1359.99, Change: -47.02, Percent Change: -3.34