Broadcom FQ3 earnings preview: What to expect?
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Broadcom (NASDAQ:AVGO) is scheduled to announce FQ3 earnings results on Thursday, September 1st, after market close.
The chip maker topped FQ2 estimates, with revenues rising 22.5% Y/Y to $8.1B. It guided to Q3 revenue of approximately $8.4B and adjusted EBITDA of approximately 63.5% of projected revenue.
The consensus EPS Estimate is $9.55 (+37.2% Y/Y) and the consensus Revenue Estimate is $8.41B (+24.0% Y/Y).
Investors will be tuning into updates on Broadcom's acquisition of VMware (VMW) for about $61B in cash and stock, announced in May. VMware is slated to report Q2 results on the same day, and investment firm Monness, Crespi, Hardt expects investors will be parsing through VMware's results for signs of slowdown in growth as well.
Despite an August rebound, shares of the San Jose-based chip company have underperformed the S&P 500 so far this year. The performance has come amid cyclical concerns hitting the semiconductor industry.
Peers Qualcomm (QCOM), Micron Technology (MU), Texas Instruments (TXN), Analog Devices (ADI), and Microchip (MCHP) have also seen declines.

Nonetheless, a consensus of Wall Street analysts has a Strong Buy opinion ahead of the print. Citi called a bottom for the semiconductor sector in early August, citing Micronâs latest report.
Over the last 2 years, Broadcom has beaten EPS estimates 100% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 1 upward revision and 1 downward. Revenue estimates have seen 7 upward revisions and 0 downward.