📊 PRO: This Week in Visuals
AVGO, NIO, HPE, IOT, DOCU, GTLB, PATH, HQY, SMAR, ASAN, AI
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Today at a glance:
📈 Broadcom: Soft Outlook
🚗 Nio: Deliveries Surge
🌐 Samsara: Enterprise Momentum
🖥️ HPE: Weak Margins
✍️ DocuSign: AI-Powered Agreements
🛠️ GitLab: AI Demand Boost
🤖 UiPath: Beating Low Expectations
🏥 HealthEquity: Record HSAs Openings
✅ Smartsheet: Acquisition Talks
📝 Asana: New CFO
🧠 C3 AI: Soft Subscription Revenue
1. 📈 Broadcom: Soft Outlook
Broadcom delivered a strong Q3, with revenue growing 47% to $13.1 billion ($110 million beat) and adjusted earnings ahead of expectations. However, the company's Q4 revenue guidance of $14 billion fell short of the $14.1 billion consensus, causing the stock to drop nearly 10%.
Remember, Broadcom completed its VMWare acquisition last November, which explains most of the 200% growth in Infrastructure Software, reaching $5.8 billion. Management expects $12 billion in AI-related revenue in FY24 (unchanged). The softer outlook than expected and concerns about potential margin pressure from AI server sales have tempered investor enthusiasm.