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What will Broadcom's total AI revenue be for fiscal year 2025?
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Broadcom's annual earnings report for fiscal year 2025
Story
Broadcom Shares Surge 14% After $8.2 Billion Q4 Earnings, AI Revenue Grows 220% with $60–$90 Billion Opportunity
Dec 13, 2024, 10:50 AM
Broadcom Inc. reported strong fourth-quarter earnings, leading to a 14% surge in its share price during premarket trading on Friday. The chipmaker's revenue from semiconductor sales reached $8.2 billion, reflecting a 13% increase quarter-over-quarter and a 12% rise year-over-year. Notably, Broadcom's artificial intelligence (AI) revenue grew by 220% compared to the same period last year, highlighting the company's significant focus on AI-related products. Analysts responded positively, with several firms raising their price targets for Broadcom's stock, including KeyBanc, which increased its target to $260 from $210, and Cantor Fitzgerald, which raised its target to $250 from $225. Broadcom's outlook suggests a potential AI revenue opportunity of $60 to $90 billion by 2027, driven by custom AI chips and advancements in data center networking. The positive earnings report contributed to a broader increase in U.S. equity futures, contrasting with negative sentiment in Asian markets.
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