On September 2, Broadcom Inc. (NASDAQ:AVGO) reported strong financial results for its third quarter of fiscal year 2026, driven by continued strength in AI-related demand.
However, despite the company's blockbuster numbers, its outlook fell slightly short of Wall Street's elevated estimates. This prompted some ***** ysts to remain cautious despite the company's strong performance.
Broadcom Inc. (NASDAQ:AVGO) generated revenue of $29.6 billion in the third quarter, an increase of 86% year-over-year. Non-GAAP operating income also rose 92% year-over-year. The company said demand for its custom AI accelerators and networking remained very strong as Q3 AI semiconductor revenue grew 221% year-over-year and 54% quarter-over-quarter to reach $16.7 billion.
The company expects this momentum to continue into the fourth quarter as it guided for AI semiconductor revenue of $21.7 billion, representing an increase of 236% from the prior-year period.
Wall Street Reaction Remains Measured
#year #revenue #Third
However, despite the company's blockbuster numbers, its outlook fell slightly short of Wall Street's elevated estimates. This prompted some ***** ysts to remain cautious despite the company's strong performance.
Broadcom Inc. (NASDAQ:AVGO) generated revenue of $29.6 billion in the third quarter, an increase of 86% year-over-year. Non-GAAP operating income also rose 92% year-over-year. The company said demand for its custom AI accelerators and networking remained very strong as Q3 AI semiconductor revenue grew 221% year-over-year and 54% quarter-over-quarter to reach $16.7 billion.
The company expects this momentum to continue into the fourth quarter as it guided for AI semiconductor revenue of $21.7 billion, representing an increase of 236% from the prior-year period.
Wall Street Reaction Remains Measured
#year #revenue #Third
2 months ago
