Broadcom stock slips on disappointing software revenue

> Broadcom reported weaker-than-expected revenue in its fiscal second-quarter earnings report. The stock slid in extended trading. > * Earnings per share: $2.44, adjusted, versus $2.40 estimated > * Revenue: $22.19 billion versus $22.27 billion estimated > Revenue climbed 48% from $15 billion in the same quarter a year earlier, Broadcom said in a statement. Sales have climbed in recent quarters, driven by demand for custom AI chips, including Google’s tensor processing unit. > The company said revenue this quarter will be about $29.4 billion, versus $28.53 billion expected by Wall Street analysts. > Broadcom shares are up close to 40% this year as of Wednesday’s close, topping the Nasdaq’s 16% gain. The stock has multiplied almost ninefold since the end of 2022, when ChatGPT kicked off the generative AI boom. https://www.cnbc.com/2026/06/03/broadcom-avgo-earnings-report-q2-2026.html