Broadcom Reports Strong Earnings and Revenue Growth in Q3
In its third-quarter financial report, Broadcom (NASDAQ:AVGO) exceeded expectations with a Non-GAAP earnings per share of $3.32, surpassing estimates by $0.08. The company also reported revenue of $29.59 billion, which beat forecasts by $160 million and marked an 85.5% year-over-year increase. The strong performance was driven primarily by robust demand for Broadcom's custom AI accelerators and networking solutions. Revenue from AI semiconductors reached $16.7 billion in Q3, reflecting a significant 221% growth compared to the same period last year.
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