Broadcom (AVGO) filed an 8-K after the close on 2 September 2026 reporting its fiscal Q3 2026 results (quarter ended 2 August 2026). Revenue was $29.59 billion, up 86% from a year ago, and the company guided Q4 revenue to roughly $34.8 billion — with custom AI chips now the single biggest line in the business.

The numbers

• Revenue: $29.59bn, up 86% YoY (from $15.95bn) and up 33% QoQ (from $22.19bn last quarter). Consensus was about $29.44bn — a modest beat.
• Non-GAAP diluted EPS: $3.32 vs the ~$3.24 analysts expected — a beat. That is up 96% YoY (from $1.69) and up 36% QoQ (from $2.44).
• GAAP diluted EPS: $2.68, up 215% YoY. Note the $0.64 gap to the non-GAAP figure — see the warning below.
• AI semiconductor revenue: $16.7bn — the story of the quarter. Up 221% YoY and up 54% in a single quarter (from $10.8bn in Q2). That is roughly 56% of all Broadcom revenue.
• Segments: Semiconductor solutions $20.84bn (+127% YoY, 70% of revenue); Infrastructure software $8.75bn (+29% YoY, 30% of revenue).
• Free cash flow: $13.67bn, up 95% YoY and 46% of revenue. Cash on hand rose to $24.0bn from $19.6bn a quarter earlier.
• Guidance (Q4 FY26, quarter ending 1 November 2026): revenue of approximately $34.8bn, up 93% YoY, with non-GAAP operating income around 66% of revenue. Management expects AI semiconductor revenue to reach $21.7bn, up 236% YoY.
• Dividend: $0.65 per share, payable 30 September 2026 to holders of record on 21 September 2026.

One number to read carefully

GAAP EPS was $2.68 but non-GAAP EPS was $3.32. The difference is not a rounding quirk — Broadcom's non-GAAP figures exclude amortisation of acquisition-related intangible assets (largely from the VMware deal), stock-based compensation, and restructuring and acquisition costs. Those are real economic costs that a GAAP investor counts. When you see "Broadcom earned $3.32", that is the adjusted number. Both are in the filing; neither is wrong, but they answer different questions.

What was filed: 8-K Item 2.02

An 8-K is the "something happened" form. Public US companies must file one within four business days of a material event, rather than waiting for the next quarterly 10-Q. Item 2.02 — Results of Operations and Financial Condition is the specific box a company ticks when it releases quarterly earnings.

Two things are worth knowing about a 2.02. First, the actual numbers usually live in an exhibit (here, Exhibit 99.1 — the press release), not in the body of the 8-K itself; the 8-K is a short cover note pointing at it. Second, an earnings 8-K is not the audited financial statements. The full statements, footnotes and risk disclosures arrive later in the 10-Q. This filing also carried an Item 8.01 (Other Events) for the dividend declaration.

Why it matters

Broadcom has quietly become an AI infrastructure company that also sells software. AI silicon at $16.7bn is now more than half of total revenue, and it grew 54% in three months — that is not a mature-business growth rate, it is a ramp. The driver is custom accelerators (chips designed for one specific hyperscaler's workload) plus the networking silicon that ties data centre racks together.

The things to weigh from here. Concentration: custom accelerator revenue depends on a small number of very large customers, so demand is lumpy and a single deferred program is visible in the numbers. Margins: guiding to 66% non-GAAP operating margin while revenue grows 93% implies the mix shift toward AI silicon is not diluting profitability, which had been a live question since custom chips typically carry lower margins than Broadcom's legacy franchises. The software half: infrastructure software grew 29% — steady, high-margin, and the part of the business that funds the dividend. The bar: guiding Q4 AI revenue to $21.7bn sets an expectation that has to be met next quarter; fast-growing guidance is a promise as much as a boast.

Beginner takeaway

Broadcom reported a genuine beat on both revenue and adjusted profit, and the AI chip line is compounding at a pace that is rare for a company this size. The most useful habit here is to check GAAP against non-GAAP before repeating an EPS number, and to treat next quarter's guidance as the new bar the company has set for itself. Growth this steep is exciting and fragile at the same time — it depends on a handful of customers continuing to order.

FAQ

What does "custom AI accelerator" actually mean? It is a chip designed for one customer's specific AI workload rather than sold off-the-shelf. Large cloud companies commission them to cut cost and power versus buying general-purpose GPUs.

Why is Broadcom's Q3 already reported in early September? Broadcom's fiscal year does not match the calendar. Its fiscal Q3 2026 ended 2 August 2026, and its fiscal year ends in early November — so its "Q3" covers roughly May to August.

Is a 2.5% EPS beat a big deal? On its own, not especially — small beats are common. What usually moves attention more is the guidance and the segment detail, which is why the $21.7bn AI forecast for Q4 is the line most people focused on.

Where can I check these numbers myself? Open the 8-K on EDGAR and click through to Exhibit 99.1. Every figure above is in that press release, and reading the original is always better than trusting a summary — including this one.

As of 2 September 2026. Source: official SEC filing — read it directly here. We summarise filings for education and may make errors, so always verify against the official document. Educational content only — not investment advice, not a buy/sell recommendation.