Broadcom (AVGO) Earnings Top Estimates After AI Fuels Sales Growth

Broadcom Inc.a chip supplier to Apple Inc. and other big tech companies, posted better-than-expected profits in the fourth quarter after demand for artificial intelligence helped boost growth.

Profit was $1.42 per share in the period, excluding some items, the company said in a statement Thursday. Revenue rose to nearly $14.1 billion. Analysts had estimated $1.39 a share on earnings and revenue of $14.1 billion on average, according to data compiled by Bloomberg.