Broadcom reported Q2 revenue of $22.2 billion, up 48% YoY, driven by AI semiconductor sales of $10.8 billion (+143%) and software revenue of $7.2 billion with 17% ARR growth, while operating margins held at 67%. Management guided Q3 AI revenue to $16 billion and reaffirmed full-year targets of $56 billion plus over $100 billion for FY27, backed by $30 billion in new AI bookings from six major customers including Google, Meta, and OpenAI. Despite the acceleration and networking leadership in 100/200T switches, shares fell nearly 20% on concerns over customer concentration, lack of raised guidance, and sustainability of hypergrowth.

Company: Broadcom Inc. (AVGO) — Q2 FY2026

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