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In fiscal 2024, Broadcom expects revenue of about $50.0 billion including VMware's contribution. Analysts on average were expecting $52.50 billion, according to LSEG data.
Soft enterprise demand, coupled with slower-than-expected recovery in consumer electronics markets such as smartphones, has also taken a toll on Broadcom's semiconductor business.
Tan says the $61 billion purchase of VMware is making progress with regulators, projects FY 2023 completion.