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Broadcom Results Top Wall Street Estimates on Strong AI Demand. Will That Revive a Slumping Stock?

companies :: 11hrs ago :: source - investopedia

By Kara Greenberg

Broadcom shares have lost ground in recent weeks, amid a broader pullback in AI-exposed stocks.  Jonathan Raa / NurPhoto / Getty Images

Can Broadcom's latest quarterly results revive enthusiasm for its stock?

Shares of Broadcom (AVGO) were recently up more than 4% in extended trading, after the chipmaker posted better-than-expected results for its fiscal first quarter.

Broadcom posted adjusted earnings per share of $2.05 on a 29% year-over-year jump in revenue to a record $19.31 billion as AI sales more than doubled. Both figures topped analysts' estimates compiled by Visible Alpha.

CEO Hock Tan said Broadcom saw "robust demand for custom AI accelerators and AI networking," and that he sees that momentum continuing in the current quarter.

The supplier for Meta (Meta) and Alphabet's (GOOGL) Google forecast second-quarter revenue of $22 billion, above the $20.31 billion analysts called for.

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If Broadcom's gains hold, they could help the shares recover some of their recent losses. They were down about 8% for 2026 through Wednesday's close, after a broader pullback in many AI-exposed stocks in recent weeks.

Source: Investopedia

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