Broadcom Inc. Stock Surges on Q3 Beat, Futures Signal Further Gains

PALO ALTO, Sept. 5 - Broadcom Inc. (NASDAQ: AVGO) shares leapt 4.6% to $320.11 in after-hours trading on Thursday following the release of third-quarter results that topped Wall Street estimates. Early Friday, U.S. stock futures pointed to additional upside for technology names, including Broadcom.

Broadcom reported third-quarter revenue of $15.952 billion, a 22% year-over-year increase that exceeded the consensus estimate of $15.83 billion. Adjusted earnings per share came in at $1.69, topping forecasts of $1.65.

In premarket trading on Friday, futures tied to the Nasdaq 100 and broader indices were up modestly, reflecting investor optimism about Broadcom’s performance and the ongoing strength in semiconductor demand. Broadcom’s strong results were driven by robust AI accelerator orders, networking hardware growth and continued momentum in its VMware software business.

Looking ahead, analysts will be monitoring the company’s fourth-quarter guidance and commentary on AI-related custom chip demand when Broadcom hosts its earnings conference call later today.