Companies /Technology

Broadcom Inc

NASDAQ: AVGO Semiconductors
$357.16
▼ $10.08 (−2.74%) today
Markets closed · 9:02pm ET

Q1 2026 Earnings

Reported Mar 4, 2026, 4:16pm ET · SEC source
$2.05
Beat +1.32%
EPS · est. $2.02
$19.3B
Beat +0.90%
Revenue · est. $19.1B
+3.6%
Beating market
AVGO vs S&P since report
10 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+3%+6%Mar 4Mar 5report 4:16pm ETearnings−0.5%+4.0%
0+3%+6%Mar 4Mar 5earnings−0.5%+4.0%
AVGO +4.0%S&P 500 −0.5%
0+3%+6%Mar 4Mar 5report 4:16pm ETearnings−0.3%+4.0%
0+3%+6%Mar 4Mar 5earnings−0.3%+4.0%
AVGO +4.0%NASDAQ −0.3%
−4%0+4%+8%Mar 3Mar 12report 4:16pm ETearnings−2.7%+5.4%
−4%0+4%+8%Mar 3Mar 12earnings−2.7%+5.4%
AVGO +5.4%S&P 500 −2.7%
−4%0+4%+8%Mar 3Mar 12report 4:16pm ETearnings−2.1%+5.4%
−4%0+4%+8%Mar 3Mar 12earnings−2.1%+5.4%
AVGO +5.4%NASDAQ −2.1%
+4.80%
Day of report
−0.69%
Next session
+0.96%
One week
+0.36%
30 days

S&P 500 over the same 30 days: −3.24%.

Did AVGO Beat Earnings? Q1 2026 Results

Broadcom delivered a record fiscal first quarter of 2026, posting non-GAAP diluted EPS of $2.05 against a consensus estimate of $2.02, a beat of 1.32%, while revenue climbed 29.5% year over year to $19.31 billion, edging past the $19.14 billion estimate. The driving force behind the quarter was an extraordinary surge in AI semiconductor demand, with AI chip revenue doubling 106% year over year to $8.40 billion, well ahead of the company's own forecast and enough to lift the Semiconductor Solutions segment to $12.52 billion, up 52% annually and now representing 65% of total revenue. Profitability expanded alongside growth, with adjusted EBITDA reaching a record $13.13 billion at a 68% margin. Those <a href="https://247wallst.com/investing/2026/03/04/live-earnings-analysis-will-broadcom-avgo-announce-something-big-tonight/">already-high expectations</a> for AI momentum appear set to intensify further, as management guided Q2 revenue to approximately $22.00 billion, implying 47% year-over-year growth, with AI semiconductor revenue alone projected to reach $10.70 billion next quarter, keeping Broadcom's CEO on track toward a stated goal of exceeding $100 billion in AI sales by 2027.

Key Takeaways
  • AI semiconductor revenue of $8.4 billion grew 106% year-over-year, above forecast
  • Robust demand for custom AI accelerators and AI networking
  • Semiconductor Solutions segment revenue grew 52% year-over-year
  • Adjusted EBITDA margin maintained at 68% of revenue
  • Free cash flow of $8.0 billion, representing 41% of revenue

“Broadcom achieved record first quarter revenue on continued strength in AI semiconductor solutions. Q1 AI revenue of $8.4 billion grew 106% year-over-year, above our forecast, driven by robust demand for custom AI accelerators and AI networking.”

Broadcom CEO, on the earnings call

Forward Guidance & Outlook

For Q2 fiscal 2026 (ending May 3, 2026), Broadcom expects revenue of approximately $22.0 billion, representing 47% year-over-year growth. Adjusted EBITDA is expected to be approximately 68% of projected revenue. AI semiconductor revenue is expected to reach $10.7 billion in Q2, reflecting accelerating AI revenue growth.

AVGO YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$6.0B$12.0B$18.0B$14.9B$19.3BRevenue$10.1B$13.2BGross Profit$6.3B$8.6BOperating Income$5.5B$7.3BNet Income
$0$6.0B$12.0B$18.0BRevenueGross ProfitOperating IncomeNet Income

AVGO Revenue by Segment

Semiconductor Solutions$12.5B+52.0%
Infrastructure Software$6.8B+1.0%

Figures from SEC filings and company reports. Not investment advice.