Broadcom (AVGO) reported a 52% year-over-year increase in semiconductor revenues for the first quarter of fiscal 2026, totaling $12.52 billion. Total revenues grew by 29.5% to $19.31 billion. The growth was primarily driven by a surge in demand for AI infrastructure, with AI-related revenues more than doubling year-over-year and custom AI accelerators seeing a 140% increase in sales.
Looking ahead, Broadcom anticipates further momentum with expected semiconductor revenues of $14.8 billion in the second quarter of fiscal 2026, reflecting a 76% year-over-year growth. Total revenues for the quarter are projected to reach $22 billion, indicating a 47% increase from the same period last year. The Zacks Consensus Estimate for second-quarter revenues is pegged at $22.04 billion, suggesting nearly 47% growth from the previous year.
Broadcom faces stiff competition from NVIDIA and Advanced Micro Devices (AMD), with both companies also experiencing significant growth driven by demand for AI technologies. NVIDIA’s Data Center revenues soared by 92% year-over-year to $75.2 billion, while AMD’s revenues grew by 57% to $5.8 billion during the same timeframe.
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