The combination of accelerating AI revenue, record margins, and aggressive capital return suggests Broadcom is a key beneficiary of the AI infrastructure buildout. Traders should monitor Q2 AI revenue of $10.7 billion (guided) as a key validation point.
Price Chart
Executive Summary
Broadcom reported strong first-quarter fiscal 2026 results with revenue of $19.3 billion, up 29% year-over-year, driven by a 106% surge in AI semiconductor revenue to $8.4 billion. The company raised second-quarter guidance to $22.0 billion (up 47% YoY) and announced a new $10 billion share repurchase program, signaling confidence in sustained growth.
Key Financial Metrics
Key Facts
- Q1 revenue of $19.311 billion, up 29% YoY
- Q1 GAAP EPS of $1.50, Non-GAAP EPS of $2.05
- AI revenue reached $8.4 billion, up 106% YoY
- Q2 revenue guidance of $22.0 billion, up 47% YoY
- New $10 billion share repurchase program authorized
- Free cash flow of $8.01 billion, or 41% of revenue
Financial Impact
Revenue growth of $4.4 billion YoY with $10 billion in new capital return, reflecting strong AI-driven momentum
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Semiconductor solutions | $12.5B | +52.0% |
| Infrastructure software | $6.8B | +1.0% |
Risk Factors
- Valuation is rich at current market cap of $1488B
- Guidance depends on sustained AI demand and no major macroeconomic disruption
- Execution risk in maintaining 68% adjusted EBITDA margins at scale
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001730168-26-000011 |
| Document: avgo-20260304.htm | 0001730168-26-000011 |
| Document: 0001730168-26-000011-index-headers.html | 0001730168-26-000011 |
| Document: 0001730168-26-000011-index.html | 0001730168-26-000011 |
| Document: 0001730168-26-000011.txt | 0001730168-26-000011 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 21d ago | ANALYST-UPGRADE | — | awaiting T+20 | — | — |
Sep 3, 2026 28d ago | ANALYST-UPGRADE | — | awaiting T+20 | — | — |
Aug 21, 2026 6w ago | ANALYST-UPGRADE | $368.45 $362.66 | ▼ −1.57% | ▼ −1.05% | $347.86 (−5.59%) |
Aug 9, 2026 7w ago | Institutional Cluster | $422.40 $368.56 | ▼ −12.75% | ▼ −11.83% | $347.86 (−17.65%) |
Aug 3, 2026 8w ago | Press Release | $392.23 $370.16 | ▲ +5.63% | ▲ +6.87% | $347.86 (+11.31%) |
Jul 15, 2026 11w ago | Insider Cluster | $394.28 $415.88 | ▲ +5.48% | ▲ +3.14% | $347.86 (−11.77%) |
Jul 15, 2026 11w ago | Insider Cluster | $394.28 $415.88 | ▲ +5.48% | ▲ +3.14% | $347.86 (−11.77%) |
Jul 10, 2026 11w ago | Insider Cluster | $384.05 $422.40 | ▲ +9.99% | ▲ +6.80% | $347.86 (−9.42%) |
Jul 10, 2026 11w ago | 144 | $384.05 $422.40 | ▲ +9.99% | ▲ +6.80% | $347.86 (−9.42%) |
Jul 8, 2026 12w ago | 144 | $401.11 $420.57 | ▼ −4.85% | ▼ −2.61% | $347.86 (+13.28%) |
US Market Status
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