Broadcom Inc. Announces Third Quarter Fiscal Year 2024 Financial Results and Quarterly Dividend

Our filings with the SEC, which are available without charge at the SEC's website at https://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)

 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED

(IN MILLIONS, EXCEPT PER SHARE DATA)



































Fiscal Quarter Ended


Three Fiscal Quarters Ended



August 4,


May 5,


July 30,


August 4,


July 30,



2024


2024


2023


2024


2023

















Net revenue


$

13,072


$

12,487


$

8,876


$

37,520


$

26,524

Cost of revenue:
















Cost of revenue



3,133



3,142



2,272



9,389



6,823

Amortization of acquisition-related intangible assets



1,525



1,516



439



4,421



1,415

Restructuring charges



58



53



1



203



3

Total cost of revenue



4,716



4,711



2,712



14,013



8,241

Gross margin



8,356



7,776



6,164



23,507



18,283

Research and development



2,353



2,415



1,358



7,076



3,865

Selling, general and administrative



1,100



1,277



388



3,949



1,174

Amortization of acquisition-related intangible assets



812



827



350



2,431



1,046

Restructuring and other charges



303



292



212



1,215



231

Total operating expenses



4,568



4,811



2,308



14,671



6,316

Operating income



3,788



2,965



3,856



8,836



11,967

Interest expense



(1,064)



(1,047)



(406)



(3,037)



(1,217)

Other income, net



82



87



124



354



380

Income from continuing operations before income taxes



2,806



2,005



3,574



6,153



11,130

Provision for (benefit from) income taxes



4,238



(116)



271



4,190



572

Income (loss) from continuing operations



(1,432)



2,121



3,303



1,963



10,558

Loss from discontinued operations, net of income taxes



(443)



-



-



(392)



-

Net income (loss)


$

(1,875)


$

2,121


$

3,303


$

1,571


$

10,558

















Basic income (loss) per share:
















Income (loss) per share from continuing operations


$

(0.31)


$

0.46


$

0.80


$

0.43


$

2.54

Loss per share from discontinued operations



(0.09)



-



-



(0.09)



-

Net income (loss) per share


$

(0.40)


$

0.46


$

0.80


$

0.34


$

2.54

















Diluted income (loss) per share:
















Income (loss) per share from continuing operations


$

(0.31)


$

0.44


$

0.77


$

0.41


$

2.47

Loss per share from discontinued operations



(0.09)



-



-



(0.08)



-

Net income (loss) per share


$

(0.40)


$

0.44


$

0.77


$

0.33


$

2.47

















Weighted-average shares used in per share calculations:
















Basic



4,663



4,645



4,130



4,606



4,154

Diluted



4,663



4,799



4,269



4,762



4,274

















Stock-based compensation expense included in continuing operations:      














Cost of revenue


$

174


$

170


$

61


$

505


$

148

Research and development



877



881



444



2,621



1,065

Selling, general and administrative



330



352



124



1,230



320

Total stock-based compensation expense


$

1,381


$

1,403


$

629


$

4,356


$

1,533


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