Broadcom forecasts current-quarter revenue above estimates on cloud strength

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FILE PHOTO: A sign to the campus offices of chip maker Broadcom Ltd is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake/File Photo

(Reuters) - Broadcom Inc forecast current-quarter revenue above Wall Street estimates on Thursday, signaling strong demand for chips used in data centers and networking equipment.

Companies are increasingly investing in the infrastructure needed to support a switch to hybrid work models, giving Broadcom - which makes chips for data centers, routers and Wi-Fi modems - an edge over competitors with more exposure to smartphones and PCs.

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Broadcom forecasts current-quarter revenue above estimates on cloud strength