Broadcom Inc. · Q3 FY2026
ReportedSep 2, 2026
Period endedAug 2, 2026
Rule of 40+132
Consensus vs reported
EPS · NON-GAAP
BEAT +3%
$3.32
vs $3.23 expected
QoQ+36.1%
YoY+96.5%
Revenue
IN LINE
$29.59B
vs $29.47B expected
QoQ+33.4%
YoY+85.5%
QoQ and YoY are measured on the same basis as each panel's own consensus, so no panel compares two different measures.
The quarter in short
Revenue $29.59B, up 85.5% year over year and 33.4% on the quarter. Non-GAAP EPS $3.32, up 96.5% year over year and 36.1% on the quarter. GAAP EPS $2.68. Free cash flow $13.66B, up 94.5% year over year and 33.2% on the quarter. Non-GAAP EPS beat consensus by 3%. Rule of 40 score +132.
Reported this quarter
Revenue
$29.59B
QoQ +33.4%
YoY +85.5%
EPS · NON-GAAP
$3.32
QoQ +36.1%
YoY +96.5%
EPS · GAAP
$2.68
QoQ +40.3%
YoY +215.3%
Free Cash Flow
$13.66B
QoQ +33.2%
YoY +94.5%
Gross Margin
69.1%
QoQ −0.4 pp
YoY +2.0 pp
FCF Margin
46.2%
QoQ −0.1 pp
YoY +2.1 pp
P/E Ratio
47.3
QoQ −32.6%
YoY −35.8%
Each tile opens the full quarterly series. Download the numbers as CSV or JSON.
What we learned
- AI is now 56% of Broadcom. $16.7B of AI semiconductor revenue against $29.591B total, up from 49% in April, and XPUs were 73% of it. Strip the AI figure out and the rest of the semiconductor segment grew about 5%.
- The fiscal-year AI numbers were raised and extended. $58B for fiscal 2026, up from $56B; about $115B for fiscal 2027 on "secured" supply; line of sight to $230B in fiscal 2028, and EPS above $30 that year.
- Broadcom disclosed its content per gigawatt for the first time: $20-30 billion. With a customer gigawatt roadmap through 2028, the AI line stops being a single quoted number and becomes something a reader can check.
- Operating expenses fell 6.5% while revenue grew 85.5%. R&D was down 5.1% year on year. That, not gross margin — which slipped to 69.1% — is where 171% GAAP operating income growth came from.
- No buyback at all, and $7.1 billion of debt repaid. Zero repurchases against $8.45B in the first quarter, $5.6B of debt paid down in the quarter and $1.5B after it, on record free cash flow of $13.665B.
Coverage around this release
R40
China Counted Broadcom's Switches. Broadcom's 17.5% China Line Is a Shipping Label.
News · Sep 23, 2026
R40
Anthropic Doesn't Trade. It Is Already a $53.4B Line in Amazon's Quarter and Two-Thirds of Microsoft's Beat.
In-Depth · Sep 5, 2026
R40
AVGO Q3 FY2026 reported earnings analysis
News · Sep 3, 2026
R40
AVGO Q3 FY2026 earnings preview
News · Sep 2, 2026
R40
OpenAI’s Jalapeño Beat GB300 on Its Test. NVIDIA’s $63 Bear Case Needs Three More Things.
News · Aug 25, 2026
R40
Broadcom May Raise $60B for AI Deals. Its 10-Q Already Disclosed a $29B Lease Backstop.
News · Aug 20, 2026
R40
Google's $12.2B Marvell Warrant Vests Against $120B of Revenue—Not Equity Value.
News · Aug 19, 2026
Estimate against reported
Our published estimate
Reported EPS
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| 2024 Q4 | — | $0.90 | — |
| 2025 Q1 | — | $1.14 | — |
| 2025 Q2 | — | $1.03 | — |
| 2025 Q3 | — | $0.85 | — |
| 2025 Q4 | — | $1.74 | — |
| 2026 Q1 | — | $1.50 | — |
| 2026 Q2 | — | $1.91 | — |
| 2026 Q3 | $3.23 | $3.32 | +3% |
Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.
Sources & downloads
Company
Published by the company on the day of the release.
HTML
Earnings press release
Investor relations announcement
SEC filings
Filed with the SEC under CIK 1730168.
JSON
Company facts (XBRL)
Every figure AVGO has reported to the SEC
R40 data
The numbers shown on this page, as we hold them.
CSV
This quarter (CSV)
Reported metrics for Q3 FY2026, spreadsheet-ready
JSON
This quarter (JSON)
Metrics, dates and matched filings