Broadcom Results Top Estimates on AI Demand, Stock Sees After-Hours Lift
Broadcom Inc. shares gained over 4% in extended trading after the semiconductor giant reported fiscal first-quarter results that surpassed analyst expectations. Revenue surged 29% year-over-year to a record $19.31 billion, powered by AI-related sales that more than doubled. Adjusted earnings reached $2.05 per share, beating Visible Alpha consensus estimates.
The company's strong AI accelerator and networking demand—particularly from tech giants Meta and Alphabet—signals continued momentum in the sector. Broadcom's bullish $22 billion Q2 revenue forecast further outstripped Wall Street projections of $20.31 billion. This performance may help counter recent bearish sentiment around AI-exposed stocks, which had dragged Broadcom shares down 20% from December peaks.
