Broadcom Board Approves 10-for-1 Stock Split, Boosted by Strong Demand for AI Products

  • 24 days ago
Broadcom's board of directors has approved a 10-for-1 forward stock split. Shareholders of record as of July 11 will receive nine additional shares for each share owned after the market close on July 12. The stock will begin trading on a split-adjusted basis on July 15. Broadcom reported strong second quarter results, with revenue jumping 43% year-over-year and adjusted EPS increasing 6%, driven by strong demand for AI products. Broadcom stock has gained 34% year-to-date in 2024 and has outperformed the S&P 500 over the past five years.