Broadcom — 2026Q3 earnings
reported 2026-09-02
EPS $3.32 vs $3.24 est — beat
next session -2.7% (close 2026-09-02 → 2026-09-03)
Financial flow diagram
A verified financial-flow breakdown is not yet available for this report.
Source
Press release ↗Summary
Broadcom's third quarter of fiscal 2026, ended August 2, 2026, was carried by custom AI silicon: AI semiconductor revenue of $16.7 billion grew 221% year over year and 54% quarter over quarter, inside consolidated revenue of $29.6 billion, up 86%. Free cash flow was $13.7 billion — 46% of revenue. The guide is the striking part: Q4 consolidated revenue of approximately $34.8 billion, up 93%, with AI semiconductor revenue expected to accelerate to $21.7 billion, up 236% — against a non-GAAP operating margin guided at approximately 66% of revenue, flat from a year ago. Hypergrowth at held, not expanding, margin. This summary reads the company's own results release; no call transcript was verified for this quarter, so nothing here is attributed to the call beyond the executives' quoted statements in the release.
Review
From the report
AI silicon is now the majority of the semiconductor segment and growing triple-digit, with Q4 guided to accelerate — while the operating-margin guide is flat, not expanding.
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Revenue of $29.6 billion, up 86% year over year. show quote
“Revenue of $29.6 billion for the third quarter, up 86 percent from the prior year period”
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AI semiconductor revenue was $16.7 billion, up 221% year over year and 54% sequentially. show quote
“Q3 AI semiconductor revenue of $16.7 billion grew 221% year-over-year, and 54% quarter-over-quarter”
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Q4 AI semiconductor revenue is guided to $21.7 billion, up 236% year over year. show quote
“we expect AI semiconductor revenue to accelerate to $21.7 billion, up 236% year-over-year”
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Non-GAAP diluted EPS was $3.32; GAAP diluted EPS was $2.68. show quote
“GAAP diluted EPS of $2.68 for the third quarter; Non-GAAP diluted EPS of $3.32 for the third quarter”
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Free cash flow was $13.7 billion, 46% of revenue. show quote
“resulted in $13.7 billion of free cash flow, or 46 percent of revenue”
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Segment split: semiconductor solutions $20.8 billion (70% of revenue), infrastructure software $8.8 billion (30%). show quote
“Semiconductor solutions $ 20,839 70 % $ 9,166 57 % +127 % Infrastructure software 8,752 30 6,786 43 +29 %”
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Q4 revenue is guided to approximately $34.8 billion with non-GAAP operating margin held at ~66%, flat from a year ago. show quote
“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”
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as of 2026-09-02