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Broadcom Reports 86% Year-Over-Year Revenue Growth in Q3 2026
Broadcom has released its financial results for the third quarter of fiscal year 2026, reporting a revenue of $29.59 billion, which marks an 86% increase from $15.95 billion in the same quarter last year. The company's adjusted earnings per share reached $3.32, surpassing analysts' expectations of $3.24, while net profit rose to $13.09 billion, or $2.68 per share, compared to $4.14 billion, or $0.85 per share, in the previous year.
The semiconductor segment contributed significantly to the revenue, generating $16.7 billion, while the infrastructure software business accounted for $8.75 billion. Despite the strong performance, Broadcom's forecast for the fourth quarter anticipates revenue of $34.8 billion, which is slightly below market expectations of $35.03 billion.
CEO Hock Tan highlighted the company's strategic expansion into the custom chip market, collaborating with major tech firms such as Anthropic, OpenAI, Google, and Meta. Broadcom aims to achieve AI-related revenue of $11.5 billion in fiscal year 2027 and $23 billion in fiscal year 2028. Following the announcement, Broadcom's stock price experienced a slight increase in after-hours trading.
Source: KLEA News