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The Economic Times
The Economic Times

Broadcom's second-quarter revenue misses estimates as competition bites

Broadcom Nvidia Hock Tan

Broadcom missed Wall Street expectations for second-quarter ​revenue on Wednesday, as increased competition ​in the custom semiconductor market hurt gains from its AI ​chips, sending its shares down more than 11% in extended trading.

Second-quarter revenue came in at $22.19 billion, missing estimates of $22.27 billion, as Broadcom races with Nvidia whose dominant graphics processing units remain the ‌industry standard ⁠for AI ⁠workloads.

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