Broadcom beats by $0.09, beats on revs; guides Q2 revs above consensus (179.45 -12.13)
- Reports Q1 (Jan) earnings of $1.60 per share, excluding non-recurring items, $0.09 better than the FactSet Consensus of $1.51; revenues rose 24.7% year/year to $14.92 bln vs the $14.62 bln FactSet Consensus.
- Co issues upside guidance for Q2 (Apr), sees Q2 revs of approximately $14.90 vs. $14.71 bln FactSet Consensus.
- Co added, "Broadcom's record first quarter revenue and adjusted EBITDA were driven by both AI semiconductor solutions and infrastructure software. Q1 AI revenue grew 77% year-over-year to $4.1 billion and infrastructure software revenue grew 47% year-over-year to $6.7 billion. We expect continued strength in AI semiconductor revenue of $4.4 billion in Q2, as hyperscale partners continue to invest in AI XPUs and connectivity solutions for AI data centers."