Broadcom 1Q Revenue Jumps as AI Semiconductor Momentum Continues

Dow Jones03-07

By Sabela Ojea

Broadcom logged a big jump in revenue for its fiscal first quarter, driven by its artificial-intelligence semiconductor and infrastructure software units, and guided for further growth in the current quarter.

The Palo Alto, Calif., chip and software company on Thursday posted a net income for the three months ended Feb. 2 of $5.5 billion, or $1.14 a share, compared with $1.33 billion, or 28 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast per-share earnings of 86 cents.

Stripping out one-time items, the earnings per share came in at $1.60, ahead of the $1.51 expected by Wall Street.

Revenue rose 25% to $14.92 billion, beating analysts expectations of $14.62 billion, according to FactSet.

Shares rose 8.7% to $195 in post-market trading. Through Thursday's close, shares are up 28% over the past 12 months.

For the second quarter, the company expects revenue of around $14.9 billion. Wall Street had forecast revenue of $14.76 billion.

"We expect continued strength in AI semiconductor revenue of $4.4 billion in the second quarter, as hyperscale partners continue to invest in AI XPUs and connectivity solutions for AI data centers," Chief Executive Hock Tan said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

March 06, 2025 16:43 ET (21:43 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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