Broadcom Smashes Q1 Estimates as AI Revenue Doubles to $8.4 Billion — Announces a $10 Billion Buyback
Broadcom posts record fiscal Q1 revenue of $19.3 billion with AI chip sales surging 106 percent year-over-year, and management sees a path to $100 billion in AI semiconductor revenue.
Broadcom just delivered one of the most impressive earnings reports in semiconductor history, and the AI story is the headline.
Record Revenue Across the Board
The company posted fiscal Q1 revenue of $19.31 billion, up 29 percent year-over-year and ahead of the $19.20 billion consensus estimate. Adjusted earnings per share landed at $2.05 versus the $2.02 Wall Street had penciled in. Shares jumped roughly 6.7 percent in premarket trading.
AI Revenue Doubles
The real showstopper is the AI segment. Revenue from AI semiconductors hit $8.4 billion, growing 106 percent year-over-year. Management guided for $10.7 billion in AI chip revenue next quarter and stated that the company has a clear line of sight to over $100 billion in cumulative AI chip revenue, citing deepening partnerships with Anthropic, Meta, and OpenAI.
$10 Billion in Buybacks
Broadcom also announced a fresh $10 billion share repurchase program, signaling that management believes the stock remains undervalued even after its massive run. Combined with the dividend, total capital returns to shareholders are accelerating.
What It Means for Investors
This report validates that enterprise AI infrastructure spending is not just holding — it is accelerating. Broadcom's custom AI silicon business is becoming a pillar of the company, and the path from $8.4 billion to $100 billion tells you just how early this cycle still is.
Sources: CNBC, March 4-5, 2026; Benzinga, March 5, 2026