Broadcom sees revenue below estimates on weak enterprise spending

A smartphone with a displayed Broadcom logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Chipmaker Broadcom forecast annual revenue below Wall Street estimates on Thursday, as weak enterprise spending and stiff competition cast a shadow on its acquisition of VMware.

Shares of San Jose, California-based Broadcom, which recently closed its acquisition of the cloud computing firm, fell more than 1% in extended trading.