04:47 PM EST, 03/04/2026 (MT Newswires) -- Broadcom ( AVGO ) late Wednesday reported fiscal first-quarter results above Wall Street's estimates as the chipmaker's artificial intelligence revenue more than doubled year-over-year.

Adjusted earnings rose to $2.05 a share during the quarter through Feb. 1 from $1.60 a year earlier, coming in ahead of the FactSet-polled consensus indicating $2.03. Revenue advanced 29% to $19.31 billion, above the Street's $19.26 billion view.

AI revenue soared 106% to $8.4 billion, driven by demand for custom AI chips and networking, Chief Executive Hock Tan said in a statement.

Revenue in the semiconductor solutions division climbed 52% to $12.52 billion, while sales in the infrastructure software segment increased 1% to $6.8 billion.

For the second quarter, Broadcom ( AVGO ) anticipates total revenue growth of 47%, to about $22 billion, compared with the consensus estimate of $20.5 billion.

AI semiconductor revenue is pegged at $10.7 billion in the ongoing three-month period, Tan said.

RBC Capital Markets expected a strong quarter and outlook, driven by tensor processing unit and networking demand.

Broadcom ( AVGO ) helps make tensor processing units, which are Alphabet (GOOG, GOOGL) unit Google's ( GOOG ) application-specific integrated circuits used to accelerate machine learning workloads.

Broadcom ( AVGO ) announced a new program to repurchase up to $10 billion of its common stock through the end of this year.