Broadcom Inc. (AVGO) saw its stock rise after reporting stronger-than-expected quarterly earnings and revenue, driven by robust demand for AI-related chips. In contrast, JD.com (JD) declined following a drop in consumer spending metrics, while Okta (OKTA) posted a positive move after exceeding revenue forecasts.
- AVGO reported EPS of $9.87, beating the $9.32 estimate
- AVGO revenue reached $13.2 billion, up 22% YoY
- JD declined 6.7% after a 12% YoY drop in third-party seller revenue
- OKTA revenue of $354 million surpassed $348 million forecast
- OKTA’s new logo growth rose 78% YoY
- AVGO and OKTA both issued stronger-than-expected guidance
Broadcom Corp. (AVGO) delivered a standout performance in its latest earnings report, with adjusted earnings per share reaching $9.87—surpassing the consensus estimate of $9.32. Revenue totaled $13.2 billion, up 22% year-over-year and slightly above the $13.1 billion forecast. The results underscore sustained demand for data center and AI infrastructure, particularly from cloud providers and semiconductor clients. The company’s strong guidance for the next quarter further fueled investor confidence, lifting AVGO shares by 8.3% in after-hours trading. Meanwhile, JD.com (JD) reported a 12% year-over-year decline in third-party seller revenue during the quarter, reflecting ongoing challenges in China’s consumer market. The company attributed the downturn to cautious spending behavior and softness in discretionary categories, despite a modest 3% growth in overall GMV. The weak performance contributed to a 6.7% drop in JD’s share price, underscoring broader concerns about domestic consumption recovery in the region. The decline also affected sentiment toward other China-based tech stocks. Okta (OKTA) posted a positive earnings surprise, reporting $354 million in revenue—exceeding the $348 million expectation—with non-GAAP EPS of $0.08 versus the $0.06 consensus. The identity and access management provider cited stronger adoption in enterprise cloud security, particularly from financial services and healthcare clients. OKTA shares gained 7.1% in after-hours trading, driven by optimistic forward guidance and a 78% year-over-year increase in new logo acquisitions.