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Broadcom Inc. (AVGO.US) Plunges 14% After Hrs as Full-Yr AI Semis Revenue Forecast Misses
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Shares of Broadcom Inc. (AVGO.US) plunged nearly 14% in after-hours trading to USD413.45, as the market was disappointed by the company's AI chip revenue outlook. For its second fiscal quarter ended May 3, Broadcom reported revenue growing 48% YoY to USD22.187 billion, compared with analysts average estimate of USD22.1 billion. Non-GAAP diluted EPS increased to USD2.44, above the prior consensus of USD2.39. In the previous quarter, Broadcom's AI semiconductor revenue ballooned 143% YoY to USD10.8 billion, ahead of the earlier average estimate of USD10.7 billion. The company said it expects AI semiconductor revenue of USD16 billion for the third fiscal quarter, below market expectations of USD17.2 billion. For the full year, AI semiconductor sales are projected to reach USD56 billion, lower than the previous average estimate of USD57.6 billion. Broadcom has begun delivering chips to OpenAI and projected to commence production later this year. The company has signed a contract with OpenAI to deploy 1.3 gigawatts of capacity in 2027. In addition, it will deploy 3 gigawatts of computing capacity for Meta Platforms, Inc. (META.US) by the end of 2028, with the first 1 gigawatt scheduled for delivery starting in 2H27. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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