Q2 26 EPS
$2.44
BEAT +1.79%
Est. $2.40
Q2 26 Revenue
$22.19B
BEAT +0.32%
Est. $22.12B
vs S&P Since Q2 26
-15.5%
TRAILING MARKET
AVGO -16.9% vs S&P -1.4%
Market Reaction
Did AVGO Beat Earnings? Q2 2026 Results
Broadcom delivered a commanding second quarter of fiscal 2026, beating Wall Street expectations on both the top and bottom lines to extend its consecutive EPS beat streak to eight quarters. Non-GAAP diluted EPS of $2.44 cleared the $2.40 consensus by… Read more Broadcom delivered a commanding second quarter of fiscal 2026, beating Wall Street expectations on both the top and bottom lines to extend its consecutive EPS beat streak to eight quarters. Non-GAAP diluted EPS of $2.44 cleared the $2.40 consensus by 1.79%, while revenue of $22.19 billion edged past estimates by 0.32% and grew 47.9% year-over-year, underlining the sustained momentum the chipmaker has built around artificial intelligence infrastructure. The single most powerful engine behind the quarter was AI semiconductor revenue, which reached $10.80 billion, up 143% year-over-year and ahead of management's own forecast, reflecting surging customer demand for custom AI accelerators and AI networking silicon. That strength powered the Semiconductor Solutions segment to $15.01 billion, up 79% year-over-year, even as the broader semiconductor landscape showed pockets of weakness among peers. Looking ahead, Broadcom guided Q3 revenue to approximately $29.40 billion, implying 84% year-over-year growth, with AI semiconductor revenue alone projected at $16.00 billion, a figure that would represent more than 200% year-over-year expansion.
Key Takeaways
- • AI semiconductor revenue of $10.8 billion grew 143% YoY, above forecast
- • Increasing demand for custom AI accelerators and AI networking
- • Strong operating leverage driving margin expansion
- • Adjusted EBITDA margin of 69% of revenue
- • Free cash flow of $10.3 billion, or 46% of revenue
AVGO Forward Guidance & Outlook
For Q3 fiscal 2026 (ending August 2, 2026), Broadcom expects consolidated revenue of approximately $29.4 billion, representing 84% year-over-year growth. Within that, AI semiconductor revenue is expected to reach $16.0 billion, growing over 200% year-over-year. Non-GAAP operating income is guided at approximately 67% of projected revenue, and Adjusted EBITDA at approximately 68% of projected revenue, reflecting strong operating leverage.
AVGO YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
AVGO Revenue by Segment
With YoY comparisons, source: SEC Filings
“Broadcom achieved record revenue, operating profit and free cash flow in Q2 driven by accelerating growth in AI semiconductor revenue and strong operating leverage. Q2 semiconductor revenue from AI of $10.8 billion grew 143% year-over-year, above our forecast, driven by increasing demand for custom AI accelerators and AI networking.”
— Hock Tan, Q2 2026 Earnings Press Release
AVGO Earnings Trends
AVGO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AVGO EPS Trend
Earnings per share: estimate vs actual
AVGO Revenue Trend
Quarterly revenue: estimate vs actual
AVGO Quarterly Results
9 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $2.40 | $2.44 | +1.79% | $22.19B | +0.32% |
| Q1 26 BEAT | $2.02 | $2.05 | +1.32% | $19.31B | +0.90% |
| Q4 25 BEAT FY | $1.87 | $1.95 | +4.27% | $18.02B | +3.18% |
| FY Full Year | $6.75 | $6.82 | +1.07% | $63.89B | +0.73% |
| Q3 25 BEAT | $1.66 | $1.69 | +1.60% | $15.95B | +0.82% |
| Q2 25 BEAT | $1.57 | $1.58 | +0.59% | $15.00B | +0.20% |
| Q1 25 BEAT | $1.51 | $1.60 | +6.11% | $14.92B | +2.23% |
| Q4 24 BEAT FY | $1.39 | $1.42 | +2.04% | $14.05B | -0.05% |
| FY Full Year | $4.85 | $4.87 | +0.36% | $51.57B | -0.24% |
| Q3 24 BEAT | $1.20 | $1.24 | +3.33% | $13.07B | +0.87% |
| Q2 24 BEAT | $10.84 | $10.96 | +1.11% | $12.49B | +3.82% |