Broadcom (AVGO) Reports Revenue Miss, Shares Drop 13%

AI Summary

Broadcom (AVGO) shares fell 13% after reporting fiscal Q2 revenue of $22.19 billion, below the expected $22.27 billion. This marks Broadcom's first revenue miss since December 2024. Additionally, its infrastructure revenue of $7.18 billion also missed estimates of $7.32 billion. The S&P 500 futures dropped by 0.4%, reflecting broader market concerns influenced by geopolitical tensions, while Tesla (TSLA) and NVIDIA (NVDA) were also impacted in the chip sector.