Why Broadcom Stock Jumped Today

Shares of Broadcom (NASDAQ: AVGO) climbed 8.3% on Friday after the chipmaker said it would return more cash to shareholders in the year ahead. 

Broadcom's revenue rose 15% year over year to $7.4 billion in its fiscal 2021 fourth quarter. Revenue in the company's semiconductor solutions and infrastructure software divisions increased 17% and 8%, respectively, to $5.6 billion and $1.8 billion.

"Broadcom concluded the year with record fourth-quarter results driven by a rebound in enterprise, and continued strength from cloud and service provider demand," CEO Hock Tan said in a press release.

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Source Fool.com