This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Wall Street consensus for Q4 FY2026 sits at $34.93 billion in revenue and EPS of 3.8745, with the top-end revenue estimate reaching $37.01 billion.
CEO Hock Tan tends to guide conservatively, then deliver. Q2 guidance called for $22.0 billion; the result landed at $22.2 billion.
Investors want a Q4 AI semiconductor dollar figure, EBITDA margin near 68%, and reaffirmation of the $100 billion FY27 AI target.
With shares down 5.03% over the past month, the outlook matters more than the beat tonight.
This live blog is being updated by Thomas Richmond, a 24/7 Wall St. contributor. Simply stay on this page, and new updates will appear below automatically.
We expect Broadcom to release Q3 earnings shortly after 4:15 p.m. ET.
Broadcom enters tonight’s Q3 earnings report with one enormous number hanging over the stock: management guided for $16 billion of semiconductor revenue, up more than 200% year over year.
The company beat estimates last quarter, but shares still plunged 12.59% as expectations ran ahead of the results. Since then, management has said AI order visibility now extends “all the way to 2028” across hyperscale customers.
Broadcom CEO Hock Tan has previously pointed to more than $100 billion in AI semiconductor revenue for FY27, setting high expectations for tonight’s Q4 guidance.
A stronger Q4 outlook or additional 2027 AI visibility could reignite the stock, while any weakness in networking or AI order conversion could reinforce the concerns that triggered June’s selloff.
This article is updated throughout the trading day. Check back for more.
Broadcom (NASDAQ:AVGO | AVGO Price Prediction) is expected to report fiscal Q3 2026 results today at 4:15 PM ET. With a market cap of roughly $1.75 trillion, this report will likely offer the investment world one of the best real-time insights into the current state of the AI infrastructure trade.
Q2 FY26 delivered record numbers: revenue of $22.19 billion (+47.87% YoY), non-GAAP EPS of $2.44, and free cash flow of $10.26 billion, or 46% of revenue. AI semiconductor revenue reached $10.80 billion, up 143% and above management’s forecast.
Yet the market’s reaction was harsh. AVGO fell 12.59% on the day and 7.21% over 30 days. The stock is down 5.03% over the past month and up 7.21% YTD. CEO Hock Tan’s Q3 guidance of $29.4 billion in revenue, up 84% year on year, sets an unusually high bar heading into tonight.
| Metric | Q3 FY26 Estimate | YoY Change | FY26 Estimate | FY27 Estimate |
|---|---|---|---|---|
| Revenue | $29.44B | +84% | $106.04B | $173.57B |
| EPS (Non-GAAP) | $3.2382 | +91.6% | $11.626 | $19.5323 |
Revisions skew positive: Q3 EPS saw 25 upward revisions against 9 downward over 30 days, and FY27 EPS moved from $18.22 to $19.53 over 90 days. The setup implies growth reacceleration, not just AI mix.
Tonight, I’ll be watching the AI semiconductor line first. Management guided $16 billion for Q3 and $56 billion for full-year FY26 AI revenue, with second-half AI revenue expected to double from the first half. Q2 AI bookings alone were over $30 billion.
Analysts will also focus on customer commitments. Broadcom signed a long-term TPU and networking deal with Google, secured over 1 gigawatt for Anthropic in 2026 plus another 5 gigawatts from 2027, is tracking OpenAI production for late 2026, and will deliver 3 gigawatts of Meta MTIA XPUs through 2028.
I’ll also watch networking momentum. AI networking hit almost 40% of Q2 AI revenue, with the 200 terabit next-gen switch tape-out due this quarter. Infrastructure Software is guided to $8.9 billion, up 31% year on year, a sharp acceleration from Q2’s 9%. Finally, gross margin mix matters: TPUs carry lower margins, offset partially by “very rich margins” in networking.
| Quarter | EPS Surprise | Day-Of Move | 1-Week Move | 30-Day Move |
|---|---|---|---|---|
| Q2 FY26 | +1.79% | -12.59% | -7.96% | -7.21% |
| Q1 FY26 | +1.32% | +4.8% | +0.96% | +0.36% |
| Q4 FY25 | +4.27% | -11.43% | -5.44% | -4.7% |
| Q3 FY25 | +1.6% | +9.41% | +7.46% | +0.45% |
On average, shares moved -0.16% seven days after earnings across the past nine reports.
Contact [email protected] for any questions or corrections.
Thomas Richmond is a financial writer and content strategist with 5+ years of experience covering stocks and financial markets. He has published over 250 articles focused on individual stock analysis, helping investors better understand business fundamentals, stock valuations, and long-term opportunities.
Thomas previously served as a Content Lead at TIKR, a stock research platform, where he helped scale the company’s blog to hundreds of articles per month and contributed to a weekly newsletter reaching more than 100,000 investors.
He specializes in breaking down complex companies into clear, actionable insights for everyday investors, with a focus on fundamentals-driven research.
His work has also been featured on platforms including Seeking Alpha and Sure Dividend.
Outside of work, Thomas enjoys weight lifting and soccer.
Investors are watching Broadcom (NASDAQ:AVGO) ahead of its fiscal second-quarter results due Wednesday, June 3, after the bell at 4:15 PM ET. With shares up 39.42% year-to-date, the bar is high, and the AI…
Palo Alto shares cratered nearly 6% intraday before earnings, yet CEO Nikesh Arora has beaten Wall Street estimates five straight quarters. Tonight's first-ever FY27 guidance will either vindicate the stock's 89% year-to-date run or…
Investors are watching Nextpower (NASDAQ: NXT | NXT Price Prediction), the solar tracker maker formerly known as Nextracker, ahead of its fiscal Q4 results expected tonight, May 12, at 4:05 PM ET. After a…
Qualcomm reports tonight with CEO Cristiano Amon calling this the trough quarter for Chinese handset revenue, but a new data center push and hyperscaler silicon ramp mean the real question is whether the recovery…
Jack Henry reports Q4 FY2026 after the bell tonight, and four specific signals in the release will reveal whether the fintech's May guidance raise was a promise or a stretch.
Applied Materials reports earnings tonight after a stunning year-to-date run, but margin pressure, a China revenue question mark, and a near-record-low free cash flow quarter have traders unusually split on what comes next.
Coherent stock surged nearly 9% ahead of its fiscal Q4 report, riding AI datacenter hype and a fresh S&P 500 inclusion into one of its highest-stakes earnings calls of the year. Whether the numbers…
Nvidia walks into tonight's report carrying a $91 billion revenue target, a near-certain Blackwell ramp, and a stock that has beaten earnings four straight times yet still fallen in the days that followed. Something…
Broadcom (Nasdaq: AVGO | AVGO Price Prediction) reports fiscal Q4 2025 results after the close, with expectations shaped almost entirely by accelerating AI semiconductor demand and steady VMware-driven software growth. The company enters earnings…
