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Broadcom Shares Jump After CEO Projects AI Chip Revenue Over $100 Billion [Yahoo! Finance]
Last broadcom inc. earnings: 3/12 04:15 pm
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US:NASDAQ Investor Relations: investors.broadcom.com
Broadcom ( NASDAQ:AVGO ) climbed 6% early Thursday after reporting fiscal first-quarter results that exceeded analyst expectations, driven by rising demand for artificial intelligence (AI) infrastructure. The semiconductor and software company said AI-related revenue more than doubled year over year to $8.4 billion. Total sales rose 29% to $19.31 billion, slightly above analysts' forecast of $19.26 billion. Adjusted earnings reached $2.05 per share, surpassing the $2.03 estimate. Warning! GuruFocus has detected 2 Warning Sign with AVGO. Is AVGO fairly valued? Test your thesis with our free DCF calculator. CEO Hock Tan said demand for Broadcom's custom AI chips and networking products is accelerating as hyperscalers and other technology firms expand AI capabilities. The company currently supports six key customers on AI processors, including Google, Meta ( NASDAQ:META ), Anthropic, and OpenAI, with Fujitsu and ByteDance expected to join. Tan projected AI chip revenue could exc
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