Broadcom Inc. Earnings Recaps
Q1 2026
Mar 6, 2026
Broadcom delivered exceptional first-quarter results in fiscal 2026, with record revenue of $19.3 billion, driven by explosive growth in AI semiconductor sales, positioning the company for continued momentum ahead.
Key takeaways
- Total revenue increased 29% year-on-year, surpassing guidance, with operating leverage reflected in a record adjusted EBITDA of $13.1 billion (68% of revenue).
- AI semiconductor revenue surged 106% year-on-year to $8.4 billion; projected to reach $10.7 billion in Q2 2026, driven by robust customer demand and the ramp-up of custom AI accelerators.
- Infrastructure Software revenue rose 1% year-on-year to $6.8 billion, with VMware's bookings exceeding $9.2 billion and sustaining a 19% annual recurring revenue growth.
- Broadcom is on track for AI revenue exceeding $100 billion in 2027, bolstered by secured supply chains and deep strategic partnerships with key cloud service providers.
- Non-AI semiconductor revenue remained flat at $4.1 billion in Q1, with expectations for modest growth in the upcoming quarter.
Q4 2025
Dec 12, 2025
Broadcom posted record fourth-quarter revenue of $18 billion, up 28% year-over-year, driven by robust growth in AI semiconductors and infrastructure software, setting the stage for continued expansion into 2026.
Key takeaways
- AI semiconductor revenue surged 74% year over year, contributing $6.5 billion in Q4, while total semiconductor revenue reached $11.1 billion.
- Infrastructure software revenue increased 19% to $6.9 billion, bolstered by strong contract bookings, bringing the total backlog for this segment to $73 billion.
- Anticipating further momentum, Q1 2026 revenue is forecasted at $19.1 billion, with AI revenue expected to double year over year.
- Broadcom's total order backlog now exceeds $162 billion, highlighting significant growth prospects, particularly in AI infrastructure components.
- Adjusted EBITDA for Q4 reached a record $12.12 billion, representing 68% of revenue, outperforming previous guidance.