Broadcom Beats Q1 Earnings As AI Revenue More Than Doubles

Core Insights - Broadcom reported first-quarter revenue of $19.31 billion, exceeding analyst estimates of approximately $19.20 billion, with adjusted earnings of $2.05 per share, surpassing estimates of $2.02 per share [2][3] Financial Performance - Revenue increased by 29% year-over-year, primarily driven by strong demand in AI semiconductor solutions [2] - AI revenue reached $8.4 billion, growing 106% year-over-year, with expectations of $10.7 billion in AI semiconductor revenue for Q2 [3] - The company generated approximately $8.26 billion in cash from operations and $8.01 billion in free cash flow during the quarter [4] Future Outlook - Broadcom anticipates fiscal second-quarter revenue of approximately $22 billion, exceeding estimates of $20.68 billion, with projected adjusted EBITDA at 68% of revenue [4] - The board approved a quarterly cash dividend of 65 cents per share, payable on March 31 to shareholders of record as of March 23 [5] Stock Performance - Broadcom shares were down 0.03% in after-hours trading, priced at $317.42 at the time of publication [6]