Broadcom said revenue for Q2 (ended May 5, 2024) was $12,487 million, up 43% from a year earlier. The company said that excluding VMware, revenue grew 12% year over year.

1. 01

   Broadcom said revenue for Q2 (ended May 5, 2024) was $12,487 million, up 43% from a year earlier. The company said that excluding VMware, revenue grew 12% year over year.

2. 02

   Broadcom reported GAAP net income for Q2 of $2,121 million, down $1,360 million from $3,481 million a year earlier, while non-GAAP net income was $5,394 million, up $905 million from $4,489 million a year earlier.

3. 03

   The company said free cash flow for Q2 was $4,448 million, calculated as cash from operations of $4,580 million less capital expenditures of $132 million. Cash and cash equivalents at the end of the quarter were $9,809 million, compared with $11,864 million at the end of the prior quarter.

4. 04

   Broadcom said its full-year fiscal 2024 revenue guidance is approximately $51.0 billion and its full-year Adjusted EBITDA guidance is approximately 61% of projected revenue. It also announced a quarterly dividend of $5.25 per share and a ten-for-one forward stock split, with trading on a split-adjusted basis expected to begin on July 15, 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

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

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