Broadcom Inc (NASDAQ:AVGO) reported financial results for the first quarter of fiscal 2026 after the close on Wednesday. Here’s a look at the key details from the print.
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Broadcom Beats Q1 Estimates
Broadcom reported first-quarter revenue of $19.31 billion, beating analyst estimates of approximately $19.20 billion. The company posted adjusted earnings of $2.05 per share for the quarter, beating analyst estimates of $2.02 per share, according to Benzinga Pro.
Revenue in the first quarter was up 29% on a year-over-year basis, driven by 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. Our AI revenue growth is accelerating, and we expect AI semiconductor revenue to be $10.7 billion in Q2,” said Hock Tan, president and CEO of Broadcom.
Broadcom generated approximately $8.26 billion in cash from operations and $8.01 billion in free cash flow during the period. The company exited the fourth quarter with approximately $14.17 billion in cash and cash equivalents.
Broadcom expects fiscal second-quarter revenue of approximately $22 billion versus estimates of $20.68 billion. The semiconductor company anticipates second-quarter adjusted EBITDA at 68% of projected revenue.
Broadcom’s board approved a quarterly cash dividend of 65 cents per share, payable on March 31 to shareholders of record as of March 23.
Broadcom’s management team will further discuss the quarter on an earnings call scheduled for 5 p.m. ET. A link to the call has been provided below.
AVGO Shares Stall After The Bell
AVGO Price Action: Broadcom shares were down 0.03% in after-hours, trading at $317.42 at the time of publication on Wednesday, according to Benzinga Pro.
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