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Broadcom Stock Rises On Reassuring Beat-And-Raise Quarterly Report

Broadcom (AVGO) late Thursday handily beat estimates for its fiscal fourth quarter and with its guidance for the current period. Broadcom stock jumped in extended trading. The Palo Alto, Calif.-based fabless chipmaker and infrastructure software provider earned an adjusted $1.95 a share on sales of $18.02 billion in the quarter ended Nov. 2. Analysts polled by FactSet had expected earnings…

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