Broadcom reports strong Q3, sees AI chip revenue accelerating in Q4
Broadcom continued to ride demand for its AI custom accelerators in the fiscal third quarter with revenue growth of 86%.
The company reported third quarter earnings of $2.68 a share on revenue of $29.6 billion, up 86% from a year ago. Non-GAAP earnings were $3.32 a share.
Wall Street was expecting Broadcom to report non-GAAP earnings of $3.24 a share on revenue of $29.43 billion.
Broadcom projected fourth quarter revenue of $34.8 billion, up 93% from a year ago.
CEO Hock Tan said, "demand for our custom AI accelerators and networking continues to be very strong" and AI semiconductor revenue will accelerate to $21.7 billion.
By unit, Broadcom's chip unit is now 70% of revenue with its infrastructure software business, led by VMware, accounting for the remainder.
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Larry Dignan is Editor in Chief of Constellation Insights at Constellation Research, where he leads editorial coverage focused on enterprise technology, digital transformation, and emerging trends shaping the future of business. He oversees research-driven news, analysis, interviews, and event coverage designed to help technology buyers and vendors navigate complex markets with clarity and context. ...
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