Avago Technologies late Wednesday reported its biggest year-over-year earnings and revenue growth in more than four years, as wireless sales surged along with red-hot Apple iPhone demand. The Singapore-based wireless chipmaker also announced it would acquire networking company Emulex (ELX) for about $606 million, or $8 a share. Avago (AVGO) also guided Q2 revenue above Wall Street forecasts and said Emulex will immediately add
Enterprise cloud software companies Salesforce.com and Workday continued their growth stories, reporting mostly better-than-expected earnings and outlooks late Wednesday that sent both stocks rising after hours. Both companies, reporting fiscal Q4s ended Jan. 31, met on the bottom line and beat on the top line. Both gave revenue guidance for the current quarter that beat analyst expectations. Workday (WDAY) doesn’t provide earnings
Jazz Pharmaceuticals shares fell late Tuesday after the drugmaker topped fourth-quarter estimates but guided 2015 revenue and profit below views. That followed United Therapeutics (UTHR), which also logged better-than-expected Q4 results. Jazz (JAZZ) earned $2.44 a share excluding a variety of items, up 42% a year earlier and 14 cents above consensus estimates. Revenue gained 39% to $328.1 million vs. views for $319.1 million.