"Performance" Broadcom's first fiscal quarter revenue beats expectations, AI business revenue doubles

AASTOCKS
2026.03.04 21:24

Chip manufacturer Broadcom (AVGO.US) announced after the market close on Wednesday that its net profit for the first fiscal quarter ending February 1 of this year increased nearly 34% year-on-year to $7.35 billion, with adjusted earnings per share of $2.05, slightly above the expected $2.03. During the period, revenue grew 29% to $19.31 billion, exceeding expectations, with artificial intelligence revenue increasing 106% to $8.4 billion.

The company expects its adjusted EBITDA margin for the second fiscal quarter to reach 68%; revenue is projected to be $22 billion, higher than the market expectation of $20.56 billion. The company anticipates that second-quarter artificial intelligence semiconductor revenue will reach $10.7 billion.

Broadcom announced that the board has approved a share repurchase of up to $10 billion to be conducted in 2026

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