Broadcom said revenue for fiscal 2024 first quarter ended February 4, 2024 rose 34% from the prior year period to $11,961 million. Infrastructure software revenue was $4,571 million, and semiconductor solutions revenue was $7,390 million.

1. 01

   Broadcom said revenue for fiscal 2024 first quarter ended February 4, 2024 rose 34% from the prior year period to $11,961 million. Infrastructure software revenue was $4,571 million, and semiconductor solutions revenue was $7,390 million.

2. 02

   The company said GAAP net income for Q1 was $1,325 million ($3,774 million in the prior year period), and Non-GAAP net income was $5,254 million. GAAP diluted earnings per share were $2.84, and Non-GAAP diluted earnings per share were $10.99.

3. 03

   The company said cash from operations for Q1 was $4,815 million and capital expenditures were $122 million, resulting in free cash flow of $4,693 million (39% of revenue). In the same quarter, it repurchased and eliminated 7.7 million shares for $8,290 million.

4. 04

   Broadcom said its fiscal 2024 annual revenue guidance, including the contribution from VMware, is approximately $50.0 billion, and its Adjusted EBITDA outlook is approximately 60% of projected revenue. The quarterly dividend is $5.25 per share, payable on March 29, 2024.

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Original filing

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