Broadcom reported strong earnings and revenue for the fiscal first quarter, surpassing expectations with revenue of $19.31 billion and adjusted earnings per share of $2.05. Significant growth was attributed to the company’s AI sector, which saw revenue more than double to $8.4 billion, fueled by strong demand for custom AI accelerators and networking solutions. Following this robust performance, Broadcom’s board also authorized a $10 billion share repurchase program to be executed through 2026, indicating confidence in future growth as the company anticipates $22 billion in revenue for the upcoming quarter.
Broadcom reports earnings beat with AI revenue doubling to $8.4B
