According to CNBC, Broadcom beat fiscal third-quarter earnings expectations and lifted its multiyear AI revenue outlook, but shares were modestly lower in extended trading. Revenue for the fiscal third quarter ended Aug. 2 rose 85% year over year to $29.59 billion, topping the $29.36 billion LSEG consensus, while adjusted earnings per share increased 96% to $3.32 versus expectations of $3.24. The company now expects $58 billion of AI revenue in fiscal 2026, up from a prior view of $56 billion, and CEO Hock Tan raised the fiscal 2027 target to $115 billion from at least $100 billion. Tan also said AI revenue is expected to double again to $230 billion in fiscal 2028, above the FactSet consensus estimate of $177 billion, and said the company is on track to exceed adjusted EPS of $30 in fiscal 2028, versus the FactSet estimate of $26.38. Broadcom said fiscal fourth-quarter revenue should be about $34.8 billion, below the $35.03 billion LSEG estimate, while AI semiconductor revenue is expected to reach $21.7 billion, above the $20.93 billion FactSet consensus. In the fiscal third quarter, Semiconductor Solutions revenue rose 70% to $20.84 billion and Infrastructure Software revenue increased 29% to $8.75 billion.