Broadcom Shares Jump 10% On Strong Q3 Results, AI Partnership Hopes

Core Insights - Broadcom Inc. experienced a surge of over 10% following the release of better-than-expected fiscal third-quarter results, strong guidance, and a potential partnership with OpenAI [1] Financial Performance - For the quarter ending August 3, Broadcom reported adjusted EPS of $1.69 on revenue of $15.95 billion, surpassing analyst expectations of $1.66 and $15.82 billion [2] - Semiconductor solutions revenue increased by 57% year-over-year to $9.17 billion, while infrastructure software sales, including VMware, rose by 17% to $6.79 billion [2] Future Outlook - Broadcom projected fiscal fourth-quarter revenue of approximately $17.4 billion, exceeding consensus estimates of $17.01 billion [3] - The company anticipates AI semiconductor revenue to accelerate to $6.2 billion, above the previous projections of $6 billion [3]