Broadcom Inc

Broadcom delivered a powerful fiscal third quarter, beating Wall Street expectations across the board and extending its consecutive EPS beat streak to nine straight quarters. Adjusted non-GAAP EPS of $3.32 topped the $3.24 consensus estimate by 2.53%, while revenue of $29.59 billion edged past the $29.44 billion forecast by 0.53% and surged 85.5% year over year. The headline driver was an extraordinary acceleration in AI semiconductor demand, with AI chip revenue reaching $16.70 billion in the quarter, up 221% year over year, propelling the Semiconductor Solutions segment to $20.84 billion and 70% of total company revenue. Free cash flow of $13.66 billion, equal to 46% of revenue, underscored the financial scale of that growth. Looking ahead, Broadcom guided Q4 revenue to approximately $34.80 billion, implying 93% year-over-year growth, with AI semiconductor revenue expected to reach $21.70 billion; separately, the company's pre-earnings unveiling of VMware-based private AI cloud platforms signals an effort to broaden its AI revenue base well beyond hyperscale custom chip contracts.