Broadcom stock (NASDAQ:AVGO) was rising more than 3% late in the day on Thursday as the company reported its latest quarterly earnings results, which were stronger than what analysts were calling for in their consensus estimate.

The chip maker said that it had a

strong third quarter of its fiscal 2018 as its net income for the period reached $1.2 billion, or $2.71 per share. The figure was a considerable improvement over the company’s net income from the year-ago quarter of $481 million, or $1.14 per share.

On an adjusted basis, Broadcom said it amassed earnings of $4.98 per share. Analysts were calling for the company to bring in adjusted earnings of $4.83 per share, according to a survey conducted by FactSet.

The company’s revenue was also strong as it amassed sales of $5.06 billion for the period, growing about $700 million from the company’s year-ago revenue of $4.46 billion. The Wall Street consensus estimate was calling for revenue of $5.06 billion, according to data compiled by FactSet.

For its fourth quarter of fiscal 2018, Broadcom said it projects revenue in the range of $5.33 billion to $5.48 billion. Analysts see the company’s fourth-quarter sales as being around $5.37 billion.

AVGO stock was down about 2.5% during regular trading hours on Thursday ahead of the company’s quarterly earnings results. Shares rose about 3.7% after the bell following Broadcom’s strong earnings and revenue showing as it nears the end of its fourth quarter.