Broadcom Reports Record Q3 Revenue Driven by AI Demand
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Broadcom Inc. (AVGO) posted record fiscal third-quarter revenue of $15.95 billion, a 22% year-over-year surge, as demand for its AI accelerators and VMware integration fueled growth. Adjusted earnings climbed to $1.69 per share, exceeding analyst expectations.
CEO Hock Tan highlighted a 63% jump in AI-related revenue to $5.2 billion, underscoring the semiconductor giant's pivotal role in the AI infrastructure boom. Wall Street remains bullish, with 27 of 29 analysts rating AVGO a Strong Buy.
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