By Yahoo Finance
Publication Date: 2026-03-10 17:04:00
Chipmaker Broadcom (AVGO) reported its first quarter earnings after the bell on Wednesday, beating expectations on the top and bottom lines and offering a better-than-anticipated Q2 outlook.
But that wasn’t enough to satisfy an already anxious Wall Street. Broadcom stock was largely flat on the news.
For the quarter, the company saw earnings per share (EPS) of $2.05 on revenue of $19.31 billion. That topped analysts’ estimated EPS of $2.03 and revenue of $19.26 billion.
For the second quarter, Broadcom said it sees revenue of about $22 billion. Wall Street was expecting $20.5 billion.
The company also approved a new $10 billion share buyback.
“Broadcom achieved record first quarter revenue on continued strength in AI semiconductor solutions,” CEO Hock Tan said in a statement. “Q1 AI revenue of $8.4 billion grew 106% year over year, above our forecast, driven by robust demand for custom AI accelerators and AI networking.”
Tan added that AI revenue growth is accelerating and that…
