Broadcom's AI chip revenue accelerated to a 74% increase last quarter, expected to double this quarter, but backlog orders are disappointing | Earnings Report Insights
Broadcom's revenue and profit for the fourth fiscal quarter both hit record highs, increasing nearly 30% and 40% year-on-year, respectively; the revenue guidance for the first fiscal quarter remains flat compared to the previous quarter, with AI chip revenue exceeding market expectations by nearly 20%. Broadcom announced a 10% increase in its quarterly dividend for this fiscal year, setting a new all-time high for annual dividends. The CEO stated that there is a backlog of AI product orders valued at $73 billion, calling it the "minimum value," and mentioned receiving $11 billion in orders from Anthropic in the fourth fiscal quarter, but warned that total profit margins are narrowing due to AI product sales. Broadcom's stock initially rose 4% in after-hours trading but later turned to a decline, dropping over 5%
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