Broadcom Inc. Announces Third Quarter Fiscal Year 2020 Financial Results and Quarterly Dividends

Our filings with the SEC, which you may obtain for free at the SEC's website at http://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.

Contact:
Broadcom Inc.
Beatrice F. Russotto
Investor Relations
408-433-8000
investor.relations@broadcom.com


1The Company is not readily able to provide a reconciliation of the projected non-GAAP financial information presented to the relevant projected GAAP measure without unreasonable effort.

 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED

(IN MILLIONS, EXCEPT PER SHARE DATA)



































Fiscal Quarter Ended


Three Fiscal Quarters Ended



August 2,


May 3,


August 4,


August 2,


August 4,



2020


2020


2019


2020


2019

















Net revenue


$

5,821


$

5,742


$

5,515


$

17,421


$

16,821

Cost of revenue:
















  Cost of revenue



1,537



1,592



1,651



4,765



4,935

  Amortization of acquisition-related intangible assets



953



954



828



2,857



2,487

  Restructuring charges



15



7



2



30



68

 Total cost of revenue



2,505



2,553



2,481



7,652



7,490

Gross margin



3,316



3,189



3,034



9,769



9,331

Research and development



1,228



1,269



1,235



3,786



3,519

Selling, general and administrative



428



501



410



1,530



1,300

Amortization of acquisition-related intangible assets



600



599



475



1,802



1,424

Restructuring, impairment and disposal charges



52



54



49



163



698

 Total operating expenses



2,308



2,423



2,169



7,281



6,941

Operating income



1,008



766



865



2,488



2,390

Interest expense



(464)



(487)



(362)



(1,357)



(1,083)

Other income, net



49



130



41



175



172

Income from continuing operations before income taxes



593



409



544



1,306



1,479

Benefit from income taxes



(96)



(159)



(171)



(331)



(410)

Income from continuing operations



689



568



715



1,637



1,889

Loss from discontinued operations, net of income taxes



(1)



(5)



-



(1)



(12)

Net income



688



563



715



1,636



1,877

Dividends on preferred stock (1)



(74)



(75)



-



(223)



-

Net income attributable to common stock


$

614


$

488


$

715


$

1,413


$

1,877

















Basic income per share attributable to common stock:
















  Income per share from continuing operations


$

1.53


$

1.23


$

1.80


$

3.53


$

4.73

  Loss per share from discontinued operations



(0.01)



(0.01)



-



(0.01)



(0.03)

  Net income per share


$

1.52


$

1.22


$

1.80


$

3.52


$

4.70

















Diluted income per share attributable to common stock (2) :
















  Income per share from continuing operations


$

1.46


$

1.18


$

1.71


$

3.37


$

4.50

  Loss per share from discontinued operations



(0.01)



(0.01)



-



(0.01)



(0.03)

  Net income per share


$

1.45


$

1.17


$

1.71


$

3.36


$

4.47

















Weighted-average shares used in per share calculations:
















  Basic



403



401



398



401



399

  Diluted



422



417



418



420



420

















Stock-based compensation expense included in continuing operations:
















  Cost of revenue


$

37


$

41


$

47


$

121


$

122

  Research and development



337



373



456



1,101



1,138

  Selling, general and administrative



91



103



129



305



381

 Total stock-based compensation expense


$

465


$

517


$

632


$

1,527


$

1,641


(1) For the fiscal quarter and three fiscal quarters ended August 2, 2020 and the fiscal quarter ended May 3, 2020, net income attributable to common stock excludes dividends on Mandatory Convertible Preferred Stock issued during the fiscal quarter ended November 3, 2019.


(2) For the fiscal quarter and three fiscal quarters ended August 2, 2020 and the fiscal quarter ended May 3, 2020, diluted income per share excluded the potentially dilutive effect of Mandatory Convertible Preferred Stock as the impact was antidilutive.


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise