Broadcom Inc. AVGO reported its fourth-quarter results after Thursday's closing bell. Here's a look at the key figures from the quarter.
The Details: Broadcom reported quarterly earnings of $1.42 per share, which beat the analyst consensus estimate of $1.38. Quarterly revenue came in at $14.05 billion, which slightly missed the consensus estimate of $14.09 billion and is an increase over sales of $9.295 billion from the same period last year.
The company reported non-GAAP net income of $6.965 billion for the fourth quarter and cash from operations of $5.604 billion for the fourth quarter, less capital expenditures of $122 million, resulting in $5.482 billion of free cash flow.
“Broadcom’s fiscal year 2024 revenue grew 44% year-over-year to a record $51.6 billion, as infrastructure software revenue grew to $21.5 billion, on the successful integration of VMware,” said Hock Tan, CEO of Broadcom Inc.
“Semiconductor revenue was a record $30.1 billion driven by AI revenue of $12.2 billion. AI revenue which grew 220 percent year-on-year was driven by our leading AI XPUs and Ethernet networking portfolio,” Tan added.
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Outlook: Broadcom sees first-quarter revenue of approximately $14.6 billion, versus the $14.612 billion estimate. The company also issued adjusted EBITDA guidance of approximately 66 percent of projected revenue for the first quarter.
AVGO Price Action: According to Benzinga Pro, Broadcom shares are up 5.27% after-hours at $190.54 at the time of publication Thursday.
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