Broadcom's Q4 performance exceeds expectations: AI chip sales will double, net profit soars 97%

Broadcom's fourth quarter report shows that the company's adjusted earnings per share and revenue exceeded market expectations. Driven by demand for artificial intelligence, the company also issued strong guidance for this quarter. Broadcom stated that first quarter revenue is expected to be around $19.1 billion, a 28% year-over-year increase and higher than analysts' average expectation of $18.3 billion. CEO Hock Tan stated in a statement that Broadcom expects AI chip sales this quarter to double year-over-year to $8.2 billion, with revenue coming from both customized AI chips and AI network-related semiconductor products. This quarter, the company's net profit increased by 97% year-over-year, rising from $4.32 billion in the same period last year to $8.51 billion.