By Ines Ferré
Publication Date: 2026-06-03 20:47:00
What happened: Broadcom (AVGO) stock declined 6% in after-hours trading on Wednesday despite posting record revenue and operating profit in its fiscal second quarter.
By the numbers: The chipmaker reported revenue of $22.19 billion, beating expectations of $22.13 billion. Earnings per share came in at $2.44, topping estimates of $2.39.
However, Broadcom’s third quarter revenue outlook and AI chip sales forecast disappointed the Street. The company said it expects revenue for the current quarter to come in at $29.4 billion, compared with a consensus estimate of $28.61 billion.
Semiconductor revenue from artificial intelligence in the second quarter grew 143% year over year. However, AI chip sales for the third quarter were projected at $16 billion, below analysts’ estimates of $17.2 billion.
What else you should know: Shares of the chipmaker have been on a tear over the past five sessions, hitting all-time highs and adding $300 billion in valuation as investors…
