$Broadcom(AVGO.US) shares have trended lower recently, pressured by chatter around 'Meta selling compute capacity' and by key downstream customers exploring alternate supply options. The former looks like a market-beta overhang, while the latter stokes company-specific alpha concerns.

Initially, investor interest in AVGO centered on its potential to counterbalance Nvidia's ecosystem. Now Broadcom is facing similar questions itself...

Below is Dolphin Research's Trans of $Broadcom(AVGO.US) FY26 Q2 earnings call. For our earnings take, please see 'AVGO: Giants vs. Giants — Is the ASIC camp splitting?'

Core highlights from the quarter include: 1) shareholder returns and 2) Q3 outlook. The company paid $3.1bn in cash dividends in Q2, equivalent to a quarterly cash dividend of $0.65 per common share, and guides Q3 consolidated revenue of $29.4bn (+84% YoY)...

AVGO posted FY2026 Q2 results (quarter ended Apr 2026) after-hours on Jun 4 Beijing time.

Management guided AI revenue to $56bn for this fiscal year and over $100bn for next fiscal year, both fairly uninspiring.

Dolphin Research's summary notes from Broadcom's FY2026 Q1 earnings call. For our take on the print, cf. '博通 AVGO：AI 火力全开，英伟达对头更飒？'. $Broadcom(AVGO.US) Key takeaways:

1) AI biz.: (i) AI revenue rose 106% YoY in Q1; Q2 guide accelerates to +140% YoY to $10.7bn.

AVGO released Q1 FY26 results (ended Jan 2026) after-hours on Mar 5 (Beijing time). 1) Overall performance: revenue was $19.3bn, +29% YoY, in line with market expectations ($19.2bn).

Revenue rose $1.3bn QoQ, mainly driven by AI. GPM was 68.1%. Excluding acquisition-related amortization and restructuring charges, Adj. GPM was 75.8%...

The following is Dolphin Research's compiled earnings call Trans for Broadcom (AVGO) FY2025 Q4. For our earnings take, please see 'Broadcom: Calling out NVDA, but did the pioneer blink first?'

AVGO fell after-hours as management struck a cautious tone during the discussion. Topics included the AI order outlook and progress with new customers and orders.

1) AI orders: The total AI backlog for AI-related components and heterogeneous processors (XPUs) topped $73bn, slated for delivery over the next 18 months (six quarters). They then explained...

In the early hours of Dec 12 Beijing time, AVGO released its FY2025 Q4 results after the U.S. close. The quarter ended Oct 2025.

1) Overall performance: Revenue was $18.0bn, up 28.2% YoY. This beat the Street's $17.5bn.

Revenue rose $2.0bn QoQ, driven by AI-related demand. AI remained the key driver.

GPM was 68%. Excluding acquisition amortization and restructuring costs, adj. GPM was 76.6%, down 17bps QoQ...

The following is the earnings call minutes for Broadcom AVGO's Q3 FY2025, organized by Dolphin Research. For earnings interpretation, please refer to the article 'NVIDIA and AMD lackluster? Broadcom takes over as the AI flag bearer'.

1. $Broadcom(AVGO.US) Key Financial Information Review

a. Gross Margin: Mainly benefited from a high proportion of software revenue and internal optimization of the semiconductor product mix.

b. Operating Margin: 65.5%. Although the gross margin decreased quarter-on-quarter due to changes in the product mix, the operating margin still increased quarter-on-quarter due to operating leverage effects...

Broadcom (AVGO.O) released its Q3 FY2025 earnings report (ending July 2025) in the early morning of September 5th, Beijing time, after the U.S. stock market closed: 1. Overall performance: Broadcom (AVGO.O) achieved $15.95 billion in revenue this quarter, up 22% year-on-year, meeting market expectations ($15.86 billion). The year-on-year growth was mainly driven by AI business and VMware integration price adjustments. The company's gross margin this quarter was 67.1%, and after excluding the impact of acquisition amortization and restructuring costs, the actual operating gross margin for this quarter was 76.8%, showing a slight decline quarter-on-quarter...

BROADCOM (AVGO.O) released its Q2 2025 fiscal year earnings (as of April 2025) after the U.S. market closed on June 6, Beijing time. Below is the earnings call minutes for Broadcom's Q2 2025 fiscal year. For a detailed earnings analysis, please refer to "Broadcom: ASIC Growth 'Stalls,' Does the Trillion-Dollar ASIC Story Face a 'Pitfall' or an 'Opportunity'?" 1. $Broadcom(AVGO.US) Key Earnings Highlights 1. Segment Performance: (1) Semiconductor revenue ($8.4 billion...