Broadcom's AI chip revenue tripled; the stock barely moved
Broadcom's AI chip revenue rose 221% to $16.7 billion. Guidance came in just under Wall Street's estimate and the stock stayed flat.
The quarter
For the fiscal third quarter ended August 2, revenue was $29.6 billion, up 86%. AI semiconductor revenue was $16.7 billion, more than half the total. GAAP diluted EPS rose 215% to $2.68.
Guidance and reaction
$21.7 billionAI semiconductor revenue Broadcom expects next quarter, up 236%
Total fourth-quarter guidance is $34.8 billion against a $35 billion consensus. That gap and a trailing multiple of 61 times earnings were the reasons given for the flat stock.
More articles
News · Models