Q1 25 EPS
$1.60
BEAT +6.11%
Est. $1.51
Q1 25 Revenue
$14.92B
BEAT +2.23%
Est. $14.59B
vs S&P Since Q1 25
+84.9%
BEATING MARKET
AVGO +110.0% vs S&P +25.1%
Market Reaction
Did AVGO Beat Earnings? Q1 2025 Results
Broadcom opened fiscal 2025 on a record-setting note, posting first-quarter revenue of $14.92 billion, up 24.7% year-over-year and ahead of the $14.59 billion consensus estimate, while non-GAAP diluted EPS of $1.60 cleared the $1.51 analyst forecast … Read more Broadcom opened fiscal 2025 on a record-setting note, posting first-quarter revenue of $14.92 billion, up 24.7% year-over-year and ahead of the $14.59 billion consensus estimate, while non-GAAP diluted EPS of $1.60 cleared the $1.51 analyst forecast by 6.11%. The primary engine behind the quarter was a 77% year-over-year surge in AI semiconductor revenue to $4.10 billion, fueled by hyperscale partners expanding their investments in custom AI accelerators and data center connectivity solutions, a dynamic that helped the broader semiconductor segment contribute $8.21 billion even as infrastructure software, powered by the maturing VMware integration, added $6.70 billion. Adjusted EBITDA reached a record $10.08 billion, representing 68% of revenue, reflecting the company's expanding margin profile. Even as some observers question whether AI-driven chip valuations have run ahead of fundamentals, Broadcom's forward guidance appears grounded, with management projecting Q2 revenue of approximately $14.90 billion and AI semiconductor revenue of $4.40 billion, pointing to continued momentum heading into the back half of the fiscal year.
Key Takeaways
- • AI semiconductor revenue grew 77% year-over-year to $4.1 billion driven by hyperscale partner investments in AI XPUs and connectivity
- • Infrastructure software revenue grew 47% year-over-year to $6.7 billion reflecting VMware integration and subscription transition
- • Adjusted EBITDA increased 41% year-over-year to a record $10.1 billion
- • Free cash flow grew 28% year-over-year to $6.0 billion
- • Declining restructuring charges as VMware integration matures
AVGO YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
AVGO Revenue by Segment
With YoY comparisons, source: SEC Filings
“Broadcom's record first quarter revenue and adjusted EBITDA were driven by both AI semiconductor solutions and infrastructure software. Q1 AI revenue grew 77% year-over-year to $4.1 billion and infrastructure software revenue grew 47% year-over-year to $6.7 billion.”
— Hock Tan, Q1 2025 Earnings Press Release
AVGO Earnings Trends
AVGO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AVGO EPS Trend
Earnings per share: estimate vs actual
AVGO Revenue Trend
Quarterly revenue: estimate vs actual
AVGO Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $2.02 | $2.05 | +1.32% | $19.31B | +0.90% |
| Q4 25 BEAT FY | $1.87 | $1.95 | +4.28% | $18.02B | +2.63% |
| FY Full Year | $6.75 | $6.82 | +1.07% | $63.89B | +0.73% |
| Q3 25 BEAT | $1.66 | $1.69 | +1.60% | $15.95B | +0.82% |
| Q2 25 BEAT | $1.57 | $1.58 | +0.59% | $15.00B | +0.20% |
| Q1 25 BEAT | $1.51 | $1.60 | +6.11% | $14.92B | +2.23% |
| Q4 24 BEAT FY | $1.39 | $1.42 | +2.16% | $14.05B | -0.86% |
| FY Full Year | $4.85 | $4.87 | +0.36% | $51.57B | -0.24% |
| Q3 24 BEAT | $1.20 | $1.24 | +3.33% | $13.07B | +0.87% |
| Q2 24 BEAT | $10.84 | $10.96 | +1.11% | $12.49B | +3.82% |