Broadcom Guides Q3 Revenue at $29.4B After Q2 EPS and Revenue Beat
AVGO•Broadcom reported fiscal Q2 adjusted EPS of $2.44 beating estimates of $2.40 and revenue of $22.19B topping forecasts around $22.1B, and guided Q3 revenue at $29.4B versus analyst consensus near $28.6B. Shares slid about 3.5% in after-hours trading despite a 90% year-over-year stock gain.
1. Q2 Earnings and Revenue
Broadcom posted fiscal second-quarter adjusted EPS of $2.44, exceeding the $2.40 consensus estimate, and generated revenue of $22.19 billion, topping forecasts around $22.1 billion.
2. Q3 Guidance
For the third quarter, management projected revenue of $29.4 billion, well above the roughly $28.6 billion consensus, reflecting optimism on continued demand growth.
3. AI Chip Demand
Custom AI chip and networking gear sales surged, with semiconductor revenue linked to AI expected to grow over 200% year-over-year to $16.0 billion.
4. Stock Reaction
Despite the beat-and-raise report, shares declined about 3.5% in after-hours trading as investors may have locked in gains following a near 90% 12-month rally.
