"On Thursday, September 4, the semiconductor and infrastructure software company announced its third-quarter financial results, including $15.95 billion in revenue. This figure was a 22% jump year-over-year (YOY) and beat Wall Street's predicted $15.83 billion, according to consensus estimates cited by CNBC. Broadcom anticipates this streak to continue, announcing an expected $17.4 billion in revenue for quarter-four, up from Wall Street's prediction of $17.02 billion. Broadcom also beat estimates for earnings per share, coming in at $1.69 adjusted, rather than $1.65 expected."
""Revenue growth was driven by better-than-expected strength in AI semiconductors and our continued growth in VMware," Broadcom's president and CEO, Hock Tan, said in an earnings call. "Demand for custom AI accelerators from our three customers continued to grow." However, Broadcom also announced that it's bringing a fourth "very significant customer" into the mix. The mystery customer has ordered $10 billion worth of custom AI chips or XPUs."
Broadcom recorded $15.95 billion in third-quarter revenue, a 22% year-over-year increase that exceeded Wall Street's $15.83 billion estimate. Adjusted earnings per share were $1.69, above the $1.65 expected. The company projects $17.4 billion in fourth-quarter revenue, higher than analysts' $17.02 billion forecast. Revenue growth was driven by strength in AI semiconductors and continued VMware growth. Demand for custom AI accelerators from three customers rose, and a fourth very significant customer placed a $10 billion order for custom AI chips or XPUs slated to ship early next year. Shares jumped over 15% after-hours.
Read at Fast Company
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