Broadcom reports Q2 adjusted EPS $1.58, consensus $1.57

Reports Q2 revenue $15B, consensus $14.97B. “Broadcom (AVGO) achieved record second quarter revenue on continued momentum in AI semiconductor solutions and VMware. Q2 AI revenue grew 46% year-over-year to over $4.4 billion driven by robust demand for AI networking,” said Hock Tan, President and CEO of Broadcom Inc. “We expect growth in AI semiconductor revenue to accelerate to $5.1 billion in Q3, delivering ten consecutive quarters of growth, as our hyperscale partners continue to invest.” “Consolidated revenue grew 20% year-over-year to a record $15.0 billion. Adjusted EBITDA increased 35% year-over-year to $10.0 billion reflecting our strong business model,” said Kirsten Spears, CFO of Broadcom Inc. “Free cash flow was a record $6.4 billion, up 44% year-over-year. Consistent with our commitment to return excess cash to shareholders, we returned $7.0 billion to shareholders in the second quarter through $2.8 billion of cash dividends and $4.2 billion of stock repurchases.”