Broadcom Q1 Earnings Preview: Semiconductor Looks To Get Back To Beating Analyst Estimates After Q4 Miss

Semiconductor giant Broadcom Inc AVGO will be hoping to get back to a streak of beating analyst estimates for revenue and earnings per share when the company reports first-quarter financial results after market close on Thursday.

Here are the key analyst estimates and items to watch.

Earnings Estimates: Analysts expect Broadcom to report first-quarter revenue of $14.61 billion, up from $11.96 billion in last year's first quarter, according to data from Benzinga Pro.

The company missed analyst estimates for revenue in the fourth quarter, while it has beaten estimates in eight of the last 10 quarters.

Analysts expect the company to report earnings per share of $1.49, up from $1.10 in last year's first quarter. The company missed estimates in the fourth quarter, while it has beaten analyst estimates in nine of the last 10 quarters overall.

Guidance from the company calls for first-quarter revenue of $14.6 billion.

Read Also: Marvell Vs. Broadcom: AI Arms Race Heats Up Ahead Of Earnings

Key Items to Watch: Broadcom recently unveiled VeloSky, a new networking solution to enhance 5G and satellite services. Broadcom hopes the new product can help diversify and unlock new revenue.

The news follows Broadcom's partnership with Micron Technology for AI infrastructure expansion announced last month.

While these items are new for the current quarter and won't factor into first-quarter results, they could find their way into guidance for the current fiscal year and company commentary.

Another item to watch that Broadcom likely won't discuss in comments but could be asked about by analysts is a report that the semiconductor company is interested in acquiring portions of Intel Corp in a breakup.

A potential deal could see Broadcom getting Intel's chip design and marketing business with Taiwan Semiconductor getting Intel's chip plants.

Despite the fourth-quarter miss for revenue and earnings per share, Broadcom had several full fiscal year records including Semiconductor revenue hitting a record $30.1 billion driven by AI revenue of $12.2 billion.

Future guidance and commentary on the semiconductor industry could provide investors and analysts with an update on price targets and an outlook for the stock compared to peers.

Ahead of the earnings report, here are recent analyst ratings and price targets on Broadcom stock:

• Morgan Stanley: Maintained Overweight rating, lowered price target from $265 to $246
• Barclays: Maintained Overweight rating, raised price target from $205 to $260
• Mizuho: Maintained Outperform rating, raised price target from $245 to $260.

AVGO Price Action: Broadcom stock is up 2.5% to $192.25 on Wednesday versus a 52-week trading range of $119.76 to $251.87. Broadcom stock is down 17% year-to-date in 2025, while shares remain up 43% over the last year.

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