Broadcom delivers strong earnings view as CEO touts growth with AI labs:
Broadcom gave a disappointing revenue forecast for the current quarter but provided ...
cnbc.com/2026/09/02/broadcom-avgo-q3-earnings-report-2026.html
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Broadcom targets AI revenue doubling despite weaker quarterly forecastThe chipmaker beat profit and revenue expectations but forecasts lower fourth-quarter revenue than analysts expect.
- Broadcom reported adjusted earnings of $3.32 per share and $29.59 billion in revenue, both above LSEG expectations.
- Broadcom forecasts fourth-quarter revenue of $34.8 billion, while analysts expect $35.03 billion.
- Quarterly revenue rose 86% year over year, while net income more than tripled to $13.09 billion.
- CEO Hock Tan said Broadcom is targeting $115 billion in AI revenue for 2027 and $230 billion for 2028.
We are empowering two of our most strategic customers, the leading AI labs, to bridge the gap between their current cash flow and the significant upfront investments required for their businesses.— Amie Thuener, Broadcom's chief financial officer, on a conference call discussing Broadcom's Q3 earnings
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