Broadcom Inc. (AVGO)
NASDAQ:AVGO
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Earnings Data
Report Date
Sep 03, 2026After Close (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
3.21Last Year’s EPS
1.69Same Quarter Last Year
Strong Buy
Based on 27 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated exceptionally strong operational and financial performance driven by record revenue, margins, free cash flow, and massive AI semiconductor growth and bookings. Strategic multi‑year customer commitments, multi‑gigawatt deployment plans, and technology leadership underpin a highly positive outlook. The primary near‑term headwinds are mix‑driven gross margin compression, elevated inventory and working capital as the company secures supply, and concentration of growth in AI (with non‑AI semiconductors growing modestly). Overall, the positives substantially outweigh the risks.Company Guidance
Record Consolidated Revenue and Strong YoY Growth
Consolidated revenue was a record $22.2 billion in Q2, up 48% year‑over‑year; Q3 consolidated revenue guidance of $29.4 billion implies +84% year‑over‑year growth.
Outstanding Profitability and Margins
Q2 operating margin was a record ~67% (67.3%), operating income was a record $14.9 billion (+52% YoY), and adjusted EBITDA was a record ~69% of revenue (~$15.2 billion), above guidance.
Explosive AI Semiconductor Growth
Q2 semiconductor revenue was a record $15.0 billion (+79% YoY). AI semiconductor revenue hit a record $10.8 billion, up 143% YoY and representing ~49% of total revenue; management expects Q3 AI semiconductor revenue of $16 billion (+200%+ YoY) and full‑year FY26 AI semiconductor revenue of ~$56 billion (~+180% YoY).
Large AI Bookings and Backlog Visibility
AI semiconductor bookings in the quarter exceeded $30 billion versus $10.8 billion shipped in the quarter, giving extended visibility out to 2028 and supporting large future shipments and platform initiatives.
Strategic Customer Agreements and Multi‑Gigawatt Commitments
Announced/confirmed multi‑year partnerships and commitments with major customers (Google long‑term TPU/networking agreement; Anthropic access to +1 GW in 2026 and additional 5 GW in 2027; OpenAI silicon delivered and contractual 1.3 GW deploy in 2027; Meta partnership with multiple generations and expected 3 GW through 2028). Management reiterated FY27 AI semiconductor revenue target in excess of $100 billion.
Software Business Durability and ARR Growth
Infrastructure software revenue was $7.2 billion in Q2 (+9% YoY), ARR grew ~17% YoY, and Q3 software revenue guidance of ~$8.9 billion implies +31% YoY. Software gross margin was ~93% and software operating margin ~79% (+310 bps YoY).
Record Free Cash Flow and Strong Cash Position
Q2 free cash flow was a record $10.3 billion (46% of revenue); cash balance rose to $19.6 billion from $14.2 billion the prior quarter. Capital expenditures were modest at $231 million. Returned $3.1 billion in dividends in the quarter.
Technology and Product Leadership for AI Infrastructure
Management emphasized leadership across XPUs, AI networking (Tomahawk 6 shipping; 200T switch tape‑out planned), co‑packaged optics, Jericho fabrics, and a broad component portfolio (SerDes, DSPs, lasers) to enable hyperscaler deployments and rack/cluster scale‑ups.
AVGO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
AVGO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jun 03, 2026 | $479.23 | $418.91 | -12.59% |
Mar 04, 2026 | $316.87 | $332.07 | +4.80% |
Dec 11, 2025 | $404.74 | $358.49 | -11.43% |
Sep 04, 2025 | $304.35 | $332.98 | +9.41% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Broadcom Inc. (AVGO) report earnings?
Broadcom Inc. (AVGO) is schdueled to report earning on Sep 03, 2026, After Close (Confirmed).
What is Broadcom Inc. (AVGO) earnings time?
Broadcom Inc. (AVGO) earnings time is at Sep 03, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AVGO EPS forecast?
AVGO EPS forecast for the fiscal quarter 2026 (Q3) is 3.21.
