Broadcom (AVGO) Reports Q2 Earnings: Adjusted EPS $2.44, Revenue $22.19B

AI Summary

Broadcom (AVGO) reported fiscal Q2 earnings with adjusted EPS of $2.44, slightly above the $2.40 estimate, while revenue was $22.19 billion, falling short of the $22.27 billion consensus. Revenue increased 48% from $15 billion in the same quarter last year, reflecting strong demand for AI chips. Net income rose to $9.31 billion, or $1.91 per share, an 88% increase year-over-year. The company reiterated its AI semiconductor revenue guidance to exceed $100 billion by 2026, although CEO Hock Tan did not raise the full-year sales target, leading to a decline in stock value.