Broadcom reported third-quarter fiscal 2026 revenue of $29.59 billion, increasing 86% from $15.95 billion in the prior-year period.
The company’s semiconductor solutions business generated $20.84 billion, up 127% year over year.
Broadcom’s AI semiconductor revenue reached $16.7 billion, increasing 221% year over year and 54% sequentially, driven by demand for custom AI accelerators and networking technology.
GAAP operating income increased 171% to $15.96 billion, while non-GAAP operating income rose 92% to $20.10 billion.
GAAP net income increased 216% to $13.09 billion and non-GAAP net income increased 95% to $16.37 billion.
GAAP diluted EPS increased 215% to $2.68, while non-GAAP diluted EPS increased 96% to $3.32.
Cash flow from operations reached $14.2 billion and free cash flow increased 95% to a record $13.7 billion, representing 46% of revenue.
For the fourth quarter, Broadcom expects revenue of approximately $34.8 billion, representing 93% year-over-year growth, with non-GAAP operating income of approximately 66% of projected revenue.
Broadcom expects AI semiconductor revenue to accelerate further to $21.7 billion, up 236% year over year.
The company also declared a quarterly dividend of $0.65 per share.
KEY QUOTES:
“Demand for our custom AI accelerators and networking continues to be very strong. Q3 AI semiconductor revenue of $16.7 billion grew 221% year-over-year, and 54% quarter-over-quarter. In Q4 the momentum continues, and we expect AI semiconductor revenue to accelerate to $21.7 billion, up 236% year-over-year.”
Hock Tan, President and CEO of Broadcom
“Broadcom achieved record revenue, operating profit and free cash flow in Q3. We delivered non-GAAP operating income growth of 92% year-over-year, as consolidated revenue grew 86% year-over-year to $29.6 billion. Q4 consolidated revenue growth is forecasted to increase 93% year-over-year to $34.8 billion, and we expect to maintain our non-GAAP operating margin at 66%, flat from a year ago.”
Amie Thuener, CFO of Broadcom
