04:29 AM EST, 03/07/2025 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Broadcom ( AVGO ) shares were up nearly 13% in premarket activity Friday after the company reported overnight a fiscal Q1 earnings and sales beat, while its guidance for next quarter's sales was also above consensus.

The company reported fiscal Q1 non-GAAP earnings late Thursday of $1.60 per diluted share, up from $1.10 a year earlier.

Analysts polled by FactSet expected $1.51.

Revenue for the quarter ended Feb. 2 was $14.92 billion, up from $11.96 billion a year earlier.

Analysts surveyed by FactSet expected $14.62 billion.

The company expects fiscal Q2 revenue of about $14.9 billion. Analysts polled by FactSet expect $14.71 billion.