U.S. semiconductor corporation Broadcom reported on the 4th (local time) that it recorded sales of $15.96 billion (22.2482 trillion won) and a net income of $1.69 per share in the second quarter.
This figure exceeds the $15.83 billion revenue and $1.65 per share net income estimated by market research firm LSEG.
Broadcom develops application-specific integrated circuits (ASICs) for cloud corporations such as Google and also provides networking components and software needed for the consolidation of thousands of AI chips.
Chief Executive Officer Hock Tan explained that the sales growth was due to customized AI chips, networking components, and VMware software. In particular, AI sales surged by 63% to $5.2 billion, exceeding the company's earlier forecast of $5.1 billion. He expects AI sales to reach $6.2 billion in the next quarter.
On that day, Broadcom's stock price rose 1.23% in regular trading on the New York Stock Exchange and increased by more than 3% in after-hours transactions following the earnings announcement.