Broadcom Inc. Announces Fourth Quarter and Fiscal Year 2023 Financial Results and Quarterly Dividend

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:
Ji Yoo
Broadcom Inc.
Investor Relations
650-427-6000
Email Contact

(AVGO-Q)


(1) The 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


Fiscal Year Ended



October 29,


July 30,


October 30,


October 29,


October 30,



2023


2023


2022


2023


2022

















Net revenue


$

9,295


$

8,876


$

8,930


$

35,819


$

33,203

Cost of revenue:
















Cost of revenue



2,449



2,272



2,298



9,272



8,256

Amortization of acquisition-related intangible assets



438



439



705



1,853



2,847

Restructuring charges



1



1



1



4



5

Total cost of revenue



2,888



2,712



3,004



11,129



11,108

Gross margin



6,407



6,164



5,926



24,690



22,095

Research and development



1,388



1,358



1,197



5,253



4,919

Selling, general and administrative



418



388



370



1,592



1,382

Amortization of acquisition-related intangible assets



348



350



358



1,394



1,512

Restructuring and other charges



13



212



15



244



57

Total operating expenses



2,167



2,308



1,940



8,483



7,870

Operating income



4,240



3,856



3,986



16,207



14,225

Interest expense



(405)



(406)



(406)



(1,622)



(1,737)

Other income (expense), net



132



124



40



512



(54)

Income before income taxes



3,967



3,574



3,620



15,097



12,434

Provision for income taxes



443



271



261



1,015



939

Net income



3,524



3,303



3,359



14,082



11,495

Dividends on preferred stock



-



-



(48)



-



(272)

Net income attributable to common stock


$

3,524


$

3,303


$

3,311


$

14,082


$

11,223

















Net income per share attributable to common stock:
















Basic


$

8.53


$

8.00


$

8.06


$

33.93


$

27.44

Diluted (1)


$

8.25


$

7.74


$

7.83


$

32.98


$

26.53

















Weighted-average shares used in per share calculations:















Basic



413



413



411



415



409

Diluted (1)



427



427



429



427



423

















Stock-based compensation expense:
















Cost of revenue


$

62


$

61


$

38


$

210


$

147

Research and development



448



444



260



1,513



1,048

Selling, general and administrative



128



124



89



448



338

Total stock-based compensation expense


$

638


$

629


$

387


$

2,171


$

1,533


(1) Excludes the potentially dilutive effect of Mandatory Convertible Preferred Stock as the impact was
antidilutive for the fiscal year ended October 30, 2022. All outstanding shares of Mandatory Convertible

Preferred Stock were converted into our common stock during the fiscal quarter ended October 30, 2022.














« 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