Jim Cramer's Reaction to Broadcom's Earnings

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Let's get into Real Money Stock of the Day Broadcom (AVGO) - Get Report .

The company reported fiscal third-quarter earnings of $5.16 a share, beating analysts' estimates but the chipmaker cautioned that a recovery in global semiconductor markets could take longer than anticipated.

Revenue in the third quarter rose to $5.52 billion from $5.06 billion in the year-earlier quarter and matched analysts' forecasts.

Broadcom said it expects fiscal-year revenue of about $22.5 billion, unchanged from its prior forecast but below analysts' forecasts of $22.61 billion. Broadcom said it expects an adjusted operating margin of 52.5% for the fiscal year, also unchanged from previous guidance.

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