Broadcom Reports Earnings Amid Stock Drop
Broadcom (NASDAQ: AVGO) saw its stock drop by 15% on June 4 following its Q2 fiscal 2026 earnings report, which indicated a 48% year-over-year revenue increase to $22.19 billion, surpassing analysts’ expectations by $70 million. Adjusted EPS rose 54% to $2.44, exceeding consensus forecasts by four cents.
For Q3, Broadcom anticipates an 83% year-over-year revenue increase to $29.4 billion, exceeding Wall Street’s 79% growth projection. However, the company’s AI chip revenue outlook of $16 billion fell short of the $17.2 billion consensus estimate. Despite the stock’s recent slump, Broadcom’s sales of AI chips rose 65% to $20 billion for fiscal 2025, making up 31% of its total revenue.
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