Earnings Release

Broadcom Inc.'s latest earnings press release, filed Sep 2, 2026, scored line by line for tone, guidance and what changed since the prior release.

New outlook issued22 lines scoredFiled Sep 2, 2026SEC 8-K · Exhibit 99

Release Tone

UPBEAT

GuidanceNew outlook issuedWhat this release does to the company's outlook

Tone change▲ 4.4pointsvs the prior release (Jun 3, 2026)

Hedging language1.05per 100 words▼ 0.34 vs prior

New this quarter4of 22 linesWording that was not in the prior release

The lines that matter most

Ranked by how material, how strongly worded and how new each sentence is.

1
We delivered non-GAAP operating income growth of 92% year-over-year, as consolidated revenue grew 86% year-over-year to $29.6 billion,” said Amie Thuener, CFO of Broadcom Inc. “Q4 consolidated revenue growth is forecasted to increase 93% year-over-year to $34.8 billion, and we expect to maintain our non-GAAP operating margin at 66%, flat from a year ago.”
New this quarter
2
Q3 AI semiconductor revenue of $16.7 billion grew 221% year-over-year, and 54% quarter-over-quarter,” said Hock Tan, President and CEO of Broadcom Inc. “In Q4 the momentum continues, and we expect AI semiconductor revenue to accelerate to $21.7 billion, up 236% year-over-year.”
3
Revenue of $29.6 billion for the third quarter, up 86 percent from the prior year period
4
Fourth quarter fiscal year 2026 revenue guidance of approximately $34.8 billion, an increase of 93 percent from the prior year period
5
The Company’s cash and cash equivalents at the end of the fiscal quarter were $24.0 billion, compared to $19.6 billion at the end of the prior fiscal quarter.
6
“Broadcom achieved record revenue, operating profit and free cash flow in Q3.
7
GAAP operating income of $16.0 billion for the third quarter; Non-GAAP operating income of $20.1 billion for the third quarter
New this quarter
8
During the third fiscal quarter, the Company generated $14.2 billion in cash from operations and spent $0.5 billion on capital expenditures, resulting in $13.7 billion of free cash flow.

Release by release

Tone and guidance for the last 2 earnings releases.

Sep 2, 2026New outlook issued66.9+4.4
Jun 3, 2026New outlook issued62.5

Bar length: tone on a 50–72 scale.

The release, annotated

1Highlight rankPositive toneNeutralNegative toneDimmed text: low materiality

Results

3Revenue of $29.6 billion for the third quarter, up 86 percent from the prior year period

7GAAP operating income of $16.0 billion for the third quarter; Non-GAAP operating income of $20.1 billion for the third quarter

GAAP diluted EPS of $2.68 for the third quarter; Non-GAAP diluted EPS of $3.32 for the third quarter

Cash from operations of $14.2 billion for the third quarter, less capital expenditures of $0.5 billion, resulted in $13.7 billion of free cash flow, or 46 percent of revenue

Capital return

Quarterly common stock dividend of $0.65 per share

Outlook

4Fourth quarter fiscal year 2026 revenue guidance of approximately $34.8 billion, an increase of 93 percent from the prior year period

Fourth quarter fiscal year 2026 Non-GAAP operating income guidance of approximately 66 percent of projected revenue (1)

Management commentary

“Demand for our custom AI accelerators and networking continues to be very strong.

2Q3 AI semiconductor revenue of $16.7 billion grew 221% year-over-year, and 54% quarter-over-quarter,” said Hock Tan, President and CEO of Broadcom Inc. “In Q4 the momentum continues, and we expect AI semiconductor revenue to accelerate to $21.7 billion, up 236% year-over-year.”

Results

6“Broadcom achieved record revenue, operating profit and free cash flow in Q3.

1We delivered non-GAAP operating income growth of 92% year-over-year, as consolidated revenue grew 86% year-over-year to $29.6 billion,” said Amie Thuener, CFO of Broadcom Inc. “Q4 consolidated revenue growth is forecasted to increase 93% year-over-year to $34.8 billion, and we expect to maintain our non-GAAP operating margin at 66%, flat from a year ago.”

Third Quarter Fiscal Year 2026 Financial Highlights

5The Company’s cash and cash equivalents at the end of the fiscal quarter were $24.0 billion, compared to $19.6 billion at the end of the prior fiscal quarter.

8During the third fiscal quarter, the Company generated $14.2 billion in cash from operations and spent $0.5 billion on capital expenditures, resulting in $13.7 billion of free cash flow.

Capital return

On June 30, 2026, the Company paid a cash dividend of $0.65 per share, totaling $3.1 billion.

Outlook

Fourth Quarter Fiscal Year 2026 Business Outlook

Based on current business trends and conditions, the outlook for the fourth quarter of fiscal year 2026, ending November 1, 2026, is expected to be as follows:

Fourth quarter revenue guidance of approximately $34.8 billion;

Fourth quarter non-GAAP operating income guidance of approximately 66 percent of projected revenue.

Capital return

Quarterly Dividends

The Board of Directors of Broadcom has approved a quarterly cash dividend of $0.65 per share.

The dividend is payable on September 30, 2026 to stockholders of record at the close of business (5:00 p.m. Eastern Time) on September 21, 2026.

50 boilerplate lines (safe-harbor disclaimer, contacts, call details) are set aside.

How this is scored

Source: the press release Broadcom Inc. filed with the SEC as Exhibit 99 to Form 8-K (Item 2.02). Financial statements and boilerplate are set aside.
Tone: a financial sentiment model scores each sentence 0 to 100; the release score weights sentences by how material they are.
Materiality and guidance: a classifier judges whether each sentence is specific information, and what the release does to the outlook.
New this quarter: wording that does not appear in the prior release.
Hedging: uncertainty words (may, could, approximately, headwinds and similar) per 100 words of narrative.

These scores describe the release's language. They are not a forecast or a recommendation. Read the original filing

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