Observed Signal · Mar 11, 2026 · earnings · Source: SEC API · Impact: 4.3/5
10-Q Financial Filing Analysis for Broadcom
AI Analysis of 10-Q for period 2026-02-01. Note: Management expressed high confidence in AI data center networking growth, while filing risk factors acknowledge potential margin compression from the sale or leasing of AI racks and the cyclical nature of the AI-driven semiconductor upturn.
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Broadcom Q2 2026 Revenue Miss Sends Stock Lower
Broadcom reported fiscal second-quarter results on June 3, 2026, that beat on adjusted EPS but missed on revenue versus LSEG consensus. Adjusted EPS was $2.44 (vs. $2.40 expected) while revenue was $22.19 billion (vs. $22.27 billion expected). Net income rose to $9.31 billion, and AI-related revenue more than doubled year-over-year to $10.8 billion. The company said it expects next-quarter revenue of about $29.4 billion, above Wall Street’s $28.53 billion forecast. Broadcom’s sales have been driven by demand for custom AI chips and related networking components, and the firm also reported infrastructure software revenue following its VMware acquisition. The stock slid in extended trading after the revenue miss despite strong AI demand and upbeat guidance.
Broadcom Set to Reveal Strong Earnings Amid AI Surge
Broadcom is scheduled to report its fiscal first-quarter results after the market close Wednesday. Analysts polled by LSEG expect adjusted earnings per share of $2.03 and revenue of $19.18 billion, implying about 29% year-over-year revenue growth. The company has seen strong AI-related demand, reporting a 65% jump in AI revenue in fiscal 2025 and contributing to the development of Google's tensor processing units; CEO Hock Tan had expected AI revenue to double to $8.2 billion in the fiscal first quarter. Analysts estimate $12.25 billion in semiconductor solutions revenue and $7.02 billion in infrastructure software for the quarter. Broadcom also announced new Wi‑Fi 8 chips during the quarter and bought VMware in 2023. Executives will host a conference call at 5 p.m. ET to discuss results.
Broadcom beats Q3 estimates, forecasts AI revenue doubling to $230B
Broadcom reported fiscal Q3 results that beat expectations, with adjusted EPS of $3.32 versus $3.24 expected and revenue rising 86% year over year to $29.59 billion, above consensus. Net income more than tripled to $13.09 billion, and adjusted operating profit grew 92% to just over $20 billion. The company guided Q4 revenue to $34.8 billion, slightly below the $35.03 billion consensus. Broadcom raised its current-fiscal-year AI chip revenue target to $58 billion from $56 billion, implying 186% growth, and reiterated long-range projections of $115 billion in AI revenue next fiscal year and $230 billion the year after. CEO Hock Tan highlighted demand from AI labs, with custom chips for Google, OpenAI, Meta, Anthropic, and Apple. Shares fell about 4% after the results despite the strong numbers.
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