Broadcom’s Q1 Revenue Tops $19.3B, EPS Beats Estimates; Stock Rises 5.27%
Broadcom reported first-quarter revenue of $19.31 billion versus $19.20 billion estimates and adjusted earnings of $2.05 per share beating the $2.02 consensus. AI segment revenue more than doubled, driving shares to close at $317.53 and surge 5.27% to $334.25 in after-hours trading.
1. Q1 Financial Performance
Broadcom recorded first-quarter revenue of $19.31 billion, exceeding the $19.20 billion estimate, with adjusted earnings of $2.05 per share topping the $2.02 consensus estimate.
2. AI Revenue Surge
The company’s AI segment more than doubled revenue year-over-year, marking it as the primary contributor to overall revenue growth and improved margins.
3. Stock Price Movement
Shares closed at $317.53, reached an intraday high of $322.64, and jumped 5.27% in after-hours trading to $334.25 following the beat on revenue and earnings.