Broadcom just posted one of the strongest quarters in its history. Revenue surged 86% year-over-year. Earnings crushed estimates. AI chip sales more than tripled. And the stock dropped.
The numbers that should have been a victory lap
Broadcom reported fiscal Q3 2026 revenue of approximately $29.6 billion, handily topping Wall Street’s consensus estimate of around $29.2 billion. That 86% year-over-year jump is the kind of growth rate most companies would frame and hang above the fireplace.
Adjusted earnings per share landed at $3.32, clearing analyst expectations of $3.22 to $3.24.
The real star of the show was AI semiconductor revenue, which hit $16.7 billion in the quarter. That figure represents a 221% increase compared to the same period last year and a 54% jump from the prior quarter.
