By Asa Fitch

Chip-maker Broadcom Inc. reported higher quarterly earnings on Thursday, boosted by demand from cloud-computing operators and strong sales of wireless communications circuitry.

The company reported $6.47 billion of revenue for its fiscal fourth quarter ended in October. That was 12% higher than the same period last year.

The San Jose, Calif.-based company said earnings per share rose to $2.93 from $1.97 in the year-ago period.

The results exceeded analysts' expectations in a FactSet survey. Broadcom said sales this quarter are expected to reach $6.6 billion, also ahead of Wall Street expectations.

Write to Asa Fitch at asa.fitch@wsj.com

(END) Dow Jones Newswires

December 10, 2020 16:42 ET (21:42 GMT)

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