FINANCE NOTE

Broadcom (NASDAQ: AVGO) — Q3 FY2026 Pre Earnings

Operations

Q2 2026
Q2 Revenue ↑ 47.9% YoY $22.19B
Segments
Semiconductor Solutions 67.6%
Infrastructure Software 32.4%

Key Earnings Driver

AI Accelerators and AI Networking Semiconductor Solutions revenue increased 78.5% year over year to $15.0B. Within Semiconductor Solutions, AI semiconductor revenue increased 143.0% to $10.8B, driven by increasing demand for custom AI Accelerators and AI Networking. Infrastructure Software revenue increased 8.8% to $7.2B, primarily driven by VMware Cloud Foundation. For Q3, Hock Tan, President and CEO of Broadcom, expects semiconductor revenue from AI to grow more than 200% year over year to $16.0B.

Key Operating Metrics¹

METRIC

STATUS

Semiconductor Solutions↑ 78.5%

AI semiconductor↑ 143.0%

AI Accelerators

🟢 Scaling

AI Networking

🟢 Scaling

Infrastructure Software↑ 8.8%

VMware Cloud Foundation

Key Financial Metrics

Gross Margin 69.47% +1.51 pp YoY
Backlog / Revenue N/A
CapEx Intensity 1.04% 0.01x Revenue

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from Broadcom website and/or SEC filings for Q2, with status based on reported data.