Broadcom Inc (NASDAQ:AVGO) posted financial results for the second quarter of fiscal 2026 after the market close on Wednesday. Here’s a rundown of the report.
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Broadcom Reports Mixed Q2 Results
Broadcom reported second-quarter revenue of $22.19 billion, missing analyst estimates of $22.27 billion. The semiconductor company posted adjusted earnings of $2.44 per share for the quarter, beating analyst estimates of $2.40 per share, according to Benzinga Pro.
Revenue in the quarter was up 48% on a year-over-year basis, driven by accelerating growth in AI semiconductor revenue and strong operating leverage.
Broadcom generated approximately $10.49 billion in cash from operations and $10.26 billion in free cash flow during the period. The company exited the quarter with approximately $19.63 billion in cash and cash equivalents.
“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,” said Hock Tan, president and CEO of Broadcom. “The momentum continues and in Q3 we expect semiconductor revenue from AI to grow over 200% year-over-year to $16 billion.”
Broadcom anticipates third-quarter revenue of approximately $29.4 billion versus estimates of $28.54 billion. The company sees third-quarter adjusted EBITDA at 68% of projected revenue.
Broadcom’s board approved a quarterly cash dividend of 65 cents per share, payable on June 30 to shareholders of record as of June 22.
Executives from Broadcom will further discuss the quarter on an earnings call scheduled for 5 p.m. ET.
AVGO Shares Slip After The Close
AVGO Price Action: Broadcom shares were down 5.79% in after-hours on Wednesday, trading at $451.49 at the time of publication, per Benzinga Pro.
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