Broadcom Stock Jumps After Hours As Strong Q4 And Surging AI Chip Demand Drive Upbeat Outlook
Synopsis
The company now expects $19.1 billion in sales in the first quarter of fiscal year 2026, above an analyst estimate of $18.3 billion on the back of strong AI chip demand.
Shares of Broadcom Inc (AVGO) rose 2.3% after hours on Thursday after the company reported fourth quarter (Q4) earnings that beat Wall Street expectations and issued an upbeat outlook for the first quarter of 2026.
The company reported Q4 adjusted earnings per share of $1.95, above a Wall Street estimate of $1.87, according to data from Fiscal AI.
Revenue for the three months came in at $18.02 billion, above an analyst estimate of $17.46 billion.
The company now expects $19.1 billion in sales in the first quarter of fiscal year 2026, above an analyst estimate of $18.3 billion, on the back of strong AI chip demand.
"We see the momentum continuing in Q1 and expect AI semiconductor revenue to double year-over-year to $8.2 billion, driven by custom AI accelerators and Ethernet AI switches,” CEO Hock Tan said in a statement.
Get updates to this developing story directly on Stocktwits.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.