<p><strong><span class="legendSpanClass">PALO ALTO</span></strong> &#8212; Broadcom Inc., a designer and developer of semiconductor and infrastructure software solutions, reported record financial results for its first quarter of fiscal year 2026, ended February 1, 2026.</p>
<p>Revenue for the quarter was $19.3 billion for the first quarter, up 29 percent from the prior year period. Net income was $7.35 billion, a 34% increase.</p>
<p>&#8220;Broadcom achieved record first quarter revenue on continued strength in AI semiconductor solutions. Q1 AI revenue of $8.4 billion grew 106% year-over-year, above our forecast, driven by robust demand for custom AI accelerators and AI networking,&#8221; said Hock Tan, President and CEO of Broadcom Inc. &#8220;Our AI revenue growth is accelerating, and we expect AI semiconductor revenue to be $10.7 billion in Q2.&#8221;</p>
<p>&#8220;Consolidated revenue grew 29% year-over-year to a record $19.3 billion. Adjusted EBITDA increased 30% year-over-year to a record $13.1 billion, representing 68% of revenue. In Q2 we expect revenue growth to increase 47% year-over-year to $22.0 billion, with adjusted EBITDA of 68%,&#8221; said Kirsten Spears, CFO of Broadcom Inc. &#8220;Consistent with our commitment to return excess cash to shareholders, we returned $10.9 billion in the first quarter through $3.1 billion of cash dividends and $7.8 billion of stock repurchases.&#8221;</p>
<p>Broadcom has over $14.1 billion in cash available.</p>
<p>The Board of Directors of Broadcom has approved a quarterly cash dividend of $0.65 per share. The dividend is payable on March 31, 2026 to stockholders of record at the close of business (5:00 p.m. Eastern Time) on March 23, 2026.</p>

Here is a list of all companies in California laying off workers this year and…
MILPITAS -- Sandisk has received multiple 2026 Red Dot Design Awards recognizing the company’s continued…
SANTA CLARA -- XCENA, a South Korean company with offices in Silicon Valley, has closed…
DoorDash and Dollar Tree, one of the nation's largest discount retailers, have announced a new…
Meta, the giant Internet company based in Mountain View, has laid off 8,000 employees or…
SAN MATEO -- Skydio, a leading maker of drones, has raised a $110 million Series…