Broadcom says enterprise spending 'on fire,' forecasts upbeat revenue

The Broadcom Limited company logo is shown outside one of their office complexes in Irvine, California, U.S., March 4, 2021. REUTERS/Mike Blake

(Reuters) - Chip company Broadcom Inc on Thursday forecast second-quarter revenue above Wall Street estimates on the back of strong demand from enterprise and cloud clients, and the ramp-up in 5G technology.

"Enterprise spending is on fire ... and we are seeing a big part of that," Broadcom's chief executive, Hock Tan, told analysts on a conference call. He said that the sector has been recovering strongly from a "trough" in the first quarter of last year.