Broadcom reports fiscal third-quarter 2026 earnings today after market close, with Wall Street expecting the semiconductor giant to deliver $29.4 billion in revenue and $3.24 in adjusted earnings per share, according to consensus forecasts. The company will host a conference call at 2:00 p.m. Pacific Time to discuss results.
The guidance underscores Broadcom’s position at the center of the AI chip boom. For Q3, the company expects total revenue to climb 84% year-over-year, with AI semiconductor revenue alone projected to surge over 200% to $16 billion—a figure that slightly trails analyst estimates of $16.36 billion but still represents extraordinary growth in custom chips for data center operators.
Broadcom’s AI chip revenue has accelerated dramatically this year. In the fiscal second quarter ended May 3, AI semiconductor revenue hit $10.8 billion, up 143% year-over-year, according to the company’s June earnings report. CEO Hock Tan said at that time he expected the figure to reach $16 billion in the current third quarter, and the company is now guiding to approximately $20 billion in AI semiconductor revenue for the full fiscal year 2026—representing more than 200% growth from fiscal 2025.
Despite this strength, Broadcom stock has retreated roughly 25% from its yearly peak, as investors balance the company’s powerful AI fundamentals against broader semiconductor sector volatility and valuation concerns. The stock fell ahead of today’s earnings announcement, a pattern that has repeated itself in recent quarters.
Broadcom’s earnings track record shows the market’s complex reaction to strong results. When the company reported fiscal Q2 earnings on June 3, it beat analyst estimates for adjusted EPS ($2.44 versus $2.39 expected) and revenue ($22.19 billion versus $22.06 billion expected), with AI chip revenue doubling year-over-year. Yet shares fell more than 12% the next day, as some investors expressed disappointment that management did not raise its full-year AI revenue target of $100 billion.
This pattern reflects a broader dynamic in semiconductor earnings this year. Nvidia beat Q2 earnings with $96.2 billion in revenue and guided Q3 to $108 billion, lifting the entire semiconductor sector and demonstrating that strong AI demand continues to drive outsized growth across the industry. Broadcom’s custom AI chips—designed for cloud providers and hyperscalers—stand to benefit from the same wave of AI infrastructure spending that has fueled Nvidia’s record performance.
All nine analysts tracked by Visible Alpha maintain bullish ratings on Broadcom, with consensus price targets implying significant upside from current levels. The stock’s pullback from its peak has not dented Wall Street conviction that the company remains a core beneficiary of the multi-year AI infrastructure build-out.
Today’s earnings announcement will clarify whether Broadcom has met its AI revenue guidance and whether management will offer any updates on the $60 billion backlog of AI chip orders the company disclosed earlier this year. The results come as the semiconductor industry faces ongoing questions about the sustainability of AI spending beyond 2026, a concern that has weighed on valuations across the sector despite record revenue growth.
Sources
- Broadcom Investor Relations — official announcement of Q3 2026 earnings conference call and timing
- MarketBeat — Q3 2026 earnings preview with consensus EPS and revenue estimates
- The Globe and Mail — Q3 guidance of $29.4 billion revenue with 84% YoY growth
- Yahoo Finance — Q3 revenue guidance and adjusted EBITDA outlook
- Wall Street Journal — Q2 earnings results and AI chip revenue of $10.8 billion
- Intellectia — AI semiconductor revenue projections and full-year guidance
- Reuters — Q3 AI semiconductor revenue guidance at $16 billion
- Investing.com — analyst consensus on volatility and earnings estimates
- Investopedia — analyst sentiment remaining bullish despite stock pullback
- Barchart — Q2 earnings beat details and subsequent stock decline
- CNBC — Q2 earnings report and management guidance commentary
- Nvidia earnings reports — Q2 revenue of $96.2 billion and Q3 guidance of $108 billion
