AVGO Q3 2026 Earnings

Call Details

• Call Title: Broadcom Q3 2026 Earnings Call
• Date: September 2, 2026 at 9:00 PM UTC
• Management Team:
  • Ji Yoo (Head of Investor Relations)
  • Hock Tan (Chief Executive Officer)
  • Amie Thuener (Chief Financial Officer)
  • Charlie Kawwas (President Semiconductor Solutions Group)

Call Summary

Financial Performance

• Consolidated revenue for Q3 was $29.6B, up 86% year-on-year.
• Q3 AI semiconductor revenue was $16.7B, which management stated was up 221% year-on-year and up 54% sequentially.
• Q3 operating income was a record $20.1B, up 92% year-on-year, with operating margin at 67.9% of revenue.
• Consolidated gross margin for Q3 was 75% of revenue, down 210 basis points sequentially and above guidance of 74%.
• Non-GAAP EPS for Q3 was $3.32, up 96% year-on-year.
• Semiconductor solutions segment revenue was a record $20.8B, up 127% year-on-year and representing 70% of total revenue.
• Infrastructure software revenue for Q3 was $8.8B, up 29% year-on-year with ARR growth of 15% year-on-year.

Guidance

• Q4 consolidated revenue is guided to $34.8B, up 93% year-on-year.
• Q4 AI semiconductor revenue is guided to $21.7B, up 236% year-on-year.
• Q4 semiconductor revenue is guided to approximately $26.1B, up 136% year-on-year, and Q4 infrastructure software revenue is guided to approximately $8.7B, up 25% year-on-year.
• Q4 consolidated gross margin is guided to approximately 73%, down from 78% a year ago, and Q4 operating margin is guided to approximately 66%.
• The non-GAAP tax rate for Q4 and fiscal 2026 is guided to be approximately 16%, and Q4 non-GAAP diluted share count is guided to be approximately 4.94B shares.
• Q4 capital expenditures are guided to be $1.4B to invest in semiconductor capacity.
• Fiscal 2026 AI semiconductor revenue is guided to $58B for the year, which is up 186% year-on-year and is stated to be above prior guidance of $56B, while fiscal 2027 AI revenue is guided to approximately $115B and fiscal 2028 to approximately $230B.