Broadcom more than tripled its profit and nearly doubled its revenue in the third quarter, as the company said demand for its custom semiconductors should continue growing for the next two years.

The results underscore the strength of the market for specialized chips used in data centers and artificial intelligence applications. Broadcom's custom silicon, often designed in partnership with major cloud providers, has become a key growth driver.

Chief Executive Hock Tan highlighted the sustained demand, signaling that the company expects robust performance through the next two years. The surge in profit and revenue reflects broader industry trends favoring tailored hardware solutions.

Investors responded positively to the earnings report, which beat analyst expectations. Broadcom's outlook remains optimistic, with the company positioned to capitalize on the expanding custom chip market.