When Broadcom Ltd. (NASDAQ: AVGO) released its most recent quarterly results after the markets closed on Wednesday, the firm posted $4.59 in earnings per share (EPS) on $4.84 billion in revenue. Consensus estimates had called for $4.50 in EPS on revenue of $4.82 billion. The fiscal fourth-quarter of last year reportedly had EPS of $4.10 and $4.46 billion in revenue.

Broadcom completed its acquisition of Brocade Communications on November 17, 2017. The results for this quarter do not include any contribution from Brocade.

In terms of the guidance for the fiscal first quarter, the company expects to see net revenues in the range of $5.225 billion to $5.375 billion, with a gross margin of 64% to 65%. The consensus estimates call for $4.40 in EPS and $4.83 billion in revenue for the quarter.

On the books, Broadcom’s cash and short-term investment balance at the end of the fourth fiscal quarter totaled $11.2 billion, up from $5.45 billion at the end of the prior quarter.

Hock Tan, president and CEO of Broadcom, commented:

On the heels of very strong fiscal 2017 financial results, and continuing momentum into the new fiscal year, we are increasing capital returns to our shareholders and have raised our interim quarterly dividend by 72%. We also closed the acquisition of Brocade early in the first fiscal quarter of 2018, adding to our very successful track record of highly accretive M&A.

Shares of Broadcom were up about 4% in Thursday’s premarket but were last seen at $270.97, or less than 3% higher on the day. The consensus analyst price target is $301.39 and the 52-week trading range is $167.51 to $285.68.

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