The company said it completed the VMware acquisition on November 22, 2023, and VMware stockholders received about $30,788 million in cash and 54.4 million shares of Broadcom common stock with a fair value of $53,398 million.

1. 01

   The company said it completed the VMware acquisition on November 22, 2023, and VMware stockholders received about $30,788 million in cash and 54.4 million shares of Broadcom common stock with a fair value of $53,398 million.

2. 02

   Broadcom said gross margin for the quarter ended February 4, 2024 was 62%, down from 67% a year earlier, and cited higher amortization of acquisition-related intangible assets from the VMware Merger as the reason.

3. 03

   The company said operating cash flow for the quarter rose $779 million from a year earlier, net income fell $2,449 million, and non-cash adjustments, including amortization of intangible assets and stock-based compensation, increased $2,930 million.

4. 04

   The company said cash declined during the quarter due to $32,058 million paid for the VMware Merger, $7,176 million of stock repurchases and $2,435 million of dividend payments. It reported $11,864 million in cash and $78,521 million of outstanding debt as of the balance date.

Key figures

Quarter ended February 4, 2024

Revenue

$12.0B

Operating income

$2.1B

Net income

$1.3B

EPS

$2.84

Gross profit

$7.4B

Operating cash flow

$4.8B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.