Explore the latest developments concerning Broadcom set to.
Broadcom set to report earnings after the bell
Broadcom shares edged up 1% in extended trading on Wednesday after the chipmaker reported stronger results than analysts had projected.
Broadcom's revenue grew 29% year over year during the fiscal first quarter, which ended on Feb. 1, according to a statement.
Net income of $7.35 billion, or $1.50 per share, increased from $5.50 billion, or $1.14 per share, in the same quarter a year earlier. Adjusted earnings exclude stock-based compensation and tax adjustments.
WATCH: I'd pick Broadcom, Nvidia first if buying tech stocks, says Niles Investment's Niles
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Prediction: This Glorious Growth Stock Will Soar After March 4
This underperforming AI stock is likely to get a nice shot in the arm after releasing its upcoming quarterly report.
The year hasn't started on a good note for Broadcom (AVGO +1.19%) investors. Shares of the chip designer have dropped 10% in 2026 as of this writing, well below the 10% jump in the PHLX Semiconductor Sector index this year.
Broadcom's poor performance this year can be attributed to the negative sentiment surrounding artificial intelligence (AI) stocks, as concerns about the viability of the massive spending on AI data centers have once again taken center stage. Additionally, the company's comments that the accelerating sales of its AI-related products will compress margins have been another headwind for the stock price of late.
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Buy Broadcom Stock as Q1 Results Approach or Choose Nvidia Instead?
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