Broadcom Inc. (AVGO) reported third-quarter fiscal 2026 non-GAAP earnings of $3.32 per share, a 96.4% increase year-over-year, exceeding the Zacks Consensus Estimate by 3.11%. Revenues rose 85.5% to $29.59 billion, also beating expectations by 0.41%, driven mainly by demand for AI semiconductors, which surged 221% to $16.7 billion, making up 56% of total revenues.
For fiscal Q4 2026, Broadcom forecasts revenues at approximately $34.8 billion, indicating a 93% year-over-year growth, with AI semiconductor revenues projected to reach $21.7 billion, up 236%. The company also raised its fiscal 2026 AI semiconductor revenue outlook to $58 billion, up 186% year-over-year.
Broadcom generated a record free cash flow of $13.67 billion, equating to 46% of revenues, and paid $3.1 billion in dividends during the quarter. Cash and cash equivalents stood at $24 billion at quarter-end.
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