Broadcom Just Named Its Next Customer to Pass Google: Anthropic. Here's Why That Matters More Than the Earnings Beat.
The market didn't reward Broadcom's latest quarterly report with big stock gains, but the business's outlook remains promising.
Broadcom announced its third quarter earnings for the 2026 fiscal year on September 2, reporting adjusted earnings per share of $3.32 on revenue of $29.59 billion. Analysts had forecast adjusted EPS of $3.24 and sales of $29.36 billion. Despite meeting these targets, the stock declined following the announcement due to elevated expectations and a projected $34.8 billion in sales for the current quarter, falling short of the average target of $35.03 billion.
While the shortfall in sales and earnings received attention, Broadcom's assertion that sales to Anthropic are projected to surpass those to Alphabet's Google division may be more significant.
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