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Broadcom delivers strong earnings view as CEO touts growth with AI labs
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Broadcom shares edged up in extended trading on Wednesday after the chipmaker issued a rosy forecast for the next fiscal year and hinted at growing business with artificial intelligence labs.
Key facts
- For the 2027 fiscal year, Tan said Broadcom is looking to double AI revenue to $115 billion, with plans to double again to $230 billion in fiscal 2028
- For the fiscal fourth quarter, Broadcom said it expects revenue of $34.8 billion, while analysts were expecting $35.03 billion, according to LSEG
- Semiconductor revenue more than tripled to $16.7 billion, exceeding the $15.2 billion average estimate, according to StreetAccount
- The LSEG consensus for fiscal 2028 adjusted earnings per share was $25.86
Summary
Earnings per share: $3.32 adjusted vs. $3.24 expected. For the fiscal fourth quarter, Broadcom said it expects revenue of $34.8 billion, while analysts were expecting $35.03 billion, according to LSEG. Broadcom's revenue increased 86% during the quarter from $15.95 billion a year ago, according to a statement. Broadcom has been one of the major winners of the AI boom, designing custom chips for companies including Google, Meta and OpenAI.