Broadcom reported a sharp rise in second-quarter revenue, driven by an explosion in demand for custom AI accelerators and networking hardware. Chief Executive Hock Tan noted that semiconductor revenue from AI more than doubled during the period. This growth reflects a shift as more companies build out the infrastructure needed for large-scale artificial intelligence.

Financial results showed revenue climbing 48% to reach $22.19 billion, slightly beating analyst expectations. Net profit jumped to $9.31 billion, or $1.91 per share, a massive increase from the $4.97 billion reported a year earlier. Adjusted earnings per share hit $2.44, surpassing the $2.40 estimate provided by FactSet analysts.

AI-specific semiconductor revenue alone hit $10.8 billion this quarter. This surge shows how heavily the company now relies on AI networking and custom chip design to drive its bottom line. The results confirm that the appetite for specialized hardware is scaling faster than previous market projections suggested.

These gains highlight the company's ability to capture a larger share of the AI hardware market. Broadcom is successfully converting the industry's focus on AI infrastructure into direct profit growth. The jump in quarterly profit nearly doubles the previous year's performance.