04:49 PM EST, 12/12/2024 (MT Newswires) -- Broadcom ( AVGO ) late Thursday reported stronger-than-expected fiscal fourth-quarter earnings, while the chipmaker's revenue fell short of Wall Street's estimates.

The chipmaker's adjusted earnings rose to $1.42 a share during the quarter through Nov. 3 from $1.11 a year earlier, coming in ahead of the FactSet-polled consensus indicating $1.39. Revenue advanced 51% to $14.05 billion, shy of the Street's $14.07 billion view.

Revenue in the infrastructure software division nearly tripled year-over-year at $5.82 billion, while that in the semiconductor solutions segment increased 12% to $8.23 billion.

Broadcom ( AVGO ) acquired multi-cloud services provider VMware late in November 2023.

For the fiscal first quarter, Broadcom ( AVGO ) anticipates total revenue of $14.6 billion, compared with the consensus estimate of $14.55 billion.

The company said that it increased its quarterly dividend by 11% to $0.59 per common share, payable Dec. 31 to stockholders of record on Dec. 23.

Shares were rising 4% in after-hours trade.