The company's performance was anchored by its semiconductor segment, which generated $20.8 billion in revenue during the quarter. CEO Hock Tan highlighted the role of custom AI accelerators, noting that revenue from AI-specific chips reached $16.7 billion—a 221% increase from the same period last year. This momentum is expected to carry into the fourth quarter, with management forecasting revenue to hit approximately $34.8 billion, a 93% jump year-over-year.
Broadcom Posts Record Revenue Driven by AI Semiconductor Demand
Broadcom Inc. reported third-quarter revenue of $29.6 billion, an 86% surge compared to the previous year, fueled by an unprecedented appetite for AI-focused hardware. The Palo Alto-based company confirmed a quarterly dividend of $0.65 per share while projecting further growth as AI infrastructure spending continues to accelerate globally.
Broadcom also reported strong operational efficiency, achieving a non-GAAP operating income of $20.1 billion for the quarter. CFO Amie Thuener confirmed that the company maintained a consistent non-GAAP operating margin of 66%. Broadcom ended the quarter with $24 billion in cash and cash equivalents, supported by $13.7 billion in free cash flow, underscoring its capacity to sustain both high research and development investment and shareholder returns.
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