Broadcom, Okta report strong quarters

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Broadcom, Okta report strong quarters.
Broadcom reported its fourth quarter financial results on Wednesday amid rising tensions with Qualcomm's board of directors. The company delivered net income of $671 million, or $1.50 per share. Non-GAAP earnings were $4.59 a share on revenue of $4.84 billion.

Wall Street was looking for earnings of $4.52 per share on revenue of $4.83 billion. Broadcom's shares were up just over two percent in late trading.

In prepared remarks, Broadcom chief executive Hock Tan touted the company's prowess when it comes to mergers and acquisitions -- a statement that's likely a swipe at Qualcomm's leadership for rejecting Broadcom's unsolicited $130 billion buyout offer.

"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."



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Okta report strong quarters