Broadcom Exceeds Q1 Earnings Estimates, Driven by AI Boom and Strong Guidance

Broadcom surpassed first-quarter earnings expectations and provided strong guidance for the current quarter.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Broadcom surpassed first-quarter earning expectations and provided strong guidance

00:06for the current quarter. The company's AI business has driven its recent surge,

00:10with its stock price more than doubling last year. It plays a key role in AI data center

00:15infrastructure, supplying components for Google's custom AI chips, and networking thousands of chips

00:21for advanced AI software. CEO Hawk Tan expects continued growth in AI semiconductor revenue,

00:28projecting an increase of over $4 billion in the second quarter.

00:31Shares surged 16% in Thursday's after-hour trading.