Broadcom Posts Higher Profit and Revenue as AI Custom Chips Boost Sales
Broadcom reported adjusted earnings of $3.32 per share on $29.59 billion in quarterly sales, beating Wall Street expectations and driving net income up to $13.09 billion. Semiconductor revenue tripled to $16.7 billion and infrastructure sales reached $8.75 billion. Shares fell nearly 2% after results, and guidance for the next four quarters trails the Street while management targets rapid AI revenue growth.