Q1 26 EPS
$2.05
BEAT +1.32%
Est. $2.02
Q1 26 Revenue
$19.31B
BEAT +0.90%
Est. $19.14B
vs S&P Since Q1 26
+20.2%
BEATING MARKET
AVGO +26.0% vs S&P +5.8%
Market Reaction
Did AVGO Beat Earnings? Q1 2026 Results
Broadcom delivered a record fiscal first quarter of 2026, posting non-GAAP diluted EPS of $2.05 against a consensus estimate of $2.02, a beat of 1.32%, while revenue climbed 29.5% year over year to $19.31 billion, edging past the $19.14 billion estim… Read more Broadcom delivered a record fiscal first quarter of 2026, posting non-GAAP diluted EPS of $2.05 against a consensus estimate of $2.02, a beat of 1.32%, while revenue climbed 29.5% year over year to $19.31 billion, edging past the $19.14 billion estimate. The driving force behind the quarter was an extraordinary surge in AI semiconductor demand, with AI chip revenue doubling 106% year over year to $8.40 billion, well ahead of the company's own forecast and enough to lift the Semiconductor Solutions segment to $12.52 billion, up 52% annually and now representing 65% of total revenue. Profitability expanded alongside growth, with adjusted EBITDA reaching a record $13.13 billion at a 68% margin. Those already-high expectations for AI momentum appear set to intensify further, as management guided Q2 revenue to approximately $22.00 billion, implying 47% year-over-year growth, with AI semiconductor revenue alone projected to reach $10.70 billion next quarter, keeping Broadcom's CEO on track toward a stated goal of exceeding $100 billion in AI sales by 2027.
Key Takeaways
- • AI semiconductor revenue of $8.4 billion grew 106% year-over-year, above forecast
- • Robust demand for custom AI accelerators and AI networking
- • Semiconductor Solutions segment revenue grew 52% year-over-year
- • Adjusted EBITDA margin maintained at 68% of revenue
- • Free cash flow of $8.0 billion, representing 41% of revenue
AVGO Forward Guidance & Outlook
For Q2 fiscal 2026 (ending May 3, 2026), Broadcom expects revenue of approximately $22.0 billion, representing 47% year-over-year growth. Adjusted EBITDA is expected to be approximately 68% of projected revenue. AI semiconductor revenue is expected to reach $10.7 billion in Q2, reflecting accelerating AI revenue growth.
AVGO YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
AVGO Revenue by Segment
With YoY comparisons, source: SEC Filings
“Broadcom achieved record first quarter revenue on continued strength in AI semiconductor solutions. Q1 AI revenue of $8.4 billion grew 106% year-over-year, above our forecast, driven by robust demand for custom AI accelerators and AI networking.”
— Hock Tan, Q1 2026 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% |