Semiconductor giant Broadcom Inc (NASDAQ:AVGO) reports third-quarter financial results after market close on Thursday.
Here’s a look at the earnings estimates, what experts are saying and the key items to watch.
Earnings Estimates: Analysts expect Broadcom to report third-quarter revenue of $15.83 billion, up from $13.83 billion in last year’s third quarter, according to data from Benzinga Pro.
The company has beaten analyst estimates for revenue in two straight quarters and in eight of the last 10 quarters overall.
Analysts expect Broadcom to report third-quarter earnings per share of $1.65, up from $1.24 in last year’s third quarter.
The company has beaten analyst estimates for earnings per share in two straight quarters, and in nine of the last 10 quarters overall.
Guidance from Broadcom calls for third-quarter revenue of $15.8 billion.
What Experts Are Saying
Broadcom’s stock, while impressive in 2025, is overshadowed by its larger semiconductor rival, NVIDIA Corporation (NASDAQ:NVDA).
“Broadcom is basically Nvidia’s baby brother,” Freedom Capital Markets Chief Market Strategist Jay Woods said in a weekly newsletter.
While it is smaller in market capitalization, Broadcom has similar qualities, according to Woods.
“It is in the $1 trillion market cap club, a top holding in both the Semiconductor ETF (NYSE:SMH), the Technology ETF (NASDAQ:XLK) and the Nasdaq 100 (NASDAQ:QQQ).”
Broadcom is up around 650% from its 2022 lows, which is lower than the 1,500%-plus gains in Nvidia stock. Yet, in recent months, the firm outperformed with a 94% gain, beating Nvidia’s increase of 45%, Woods said.
“The semiconductor company has grown mightily in Nvidia’s shadows for years now.”
Looking at the stock chart, Woods said Broadcom stock has “clear support” at the $285 level. The shares have been consolidating between $285 and $310.
Analysts have been raising their price targets on Broadcom stock heading into the earnings print. Here are recent analyst ratings on Broadcom and their price targets:
- Morgan Stanley: Maintained Overweight rating, raised price target from $338 to $357
- Oppenheimer: Maintained Outperform rating, raised price target from $305 to $325
- UBS: Maintained Buy rating, raised price target from $290 to $345
- Piper Sandler: Maintained Overweight rating, raised price target from $300 to $315
Key Items to Watch
The earnings report comes after Nvidia displayed a strong beat and raise quarter.
Broadcom is also partnering with Nvidia, having recently extended its collaboration, with support for Blackwell GPUs. Broadcom is
The latest earnings report could show how the partnership and demand for Nvidia is helping Broadcom. The company will also likely try to distance itself from relying on Nvidia from growth and offer highlights of how it is looking to better compete with other semiconductor companies.
In the second quarter, Broadcom reported 20% revenue growth with momentum for its AI solutions a key growth item.
AI revenue was up 46% year-over-year for Broadcom in the second quarter, hitting $4.4 billion.
“We expect growth in AI semiconductor revenue to accelerate to $5.1 billion in Q3, delivering ten consecutive quarters of growth,” CEO Hock Tan said.
With AI revenue broken out and guidance given, this could be one of the key figures that analysts and investors zero in on in the quarterly results.
AVGO Price Action: AVGO stock is up 0.6% to $300.02 on Wednesday and up 29.3% year-to-date in 2025. Its 52-week trading range ranges from $134.91 to $317.35. Broadcom stock is
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