$AVGO (+4,46 %) | Broadcom Q3 Earnings Highlights:

🔹 Adj EPS: $1.24 (Est. $1.22) 🟢

🔹 Revenue: $13.07B (Est. $13.03B) 🟢; UP +47% YoY

FY2024 Outlook:

🔹 Revenue: $14B (Est. $14.13B) 😕

🔹 Adjusted EBITDA: Approximately 64% of projected revenue

Segment Revenue:

🔹 Semiconductor Solutions: $7.27B (Est. $7.41B) 🔴; UP +5% YoY

🔹 Infrastructure Software: $5.80B (Est. $5.5B) 🟢; UP +200% YoY

Key Q3 Financial Metrics:

🔹 Adjusted EBITDA: $8.22B (Est. $7.95B) 🟢

🔹 Adjusted Operating Income: $7.95B (Est. $7.73B) 🟢

🔹 Adj. R&D Expense: $1.47B (Est. $1.47B) 🟡

🔹 Capital Expenditure: $172M (Est. $140.5M) 🔴

🔹 Free Cash Flow: $4.79B

🔹 Cash from Operations: $4.96B

Strategic Update:

🔸 Broadcom expects AI-related revenue to reach $12B for FY2024, driven by strong demand for Ethernet networking solutions and custom accelerators designed for AI data centers.

🔸 In Q3, AI-driven sales significantly contributed to the company's growth, and Broadcom expects AI-related demand to remain a critical growth driver moving forward.

Quarterly Dividends:

🔸 The Board of Directors approved a quarterly cash dividend of $0.53 per share, payable on September 30, 2024.

CEO Hock Tan's Commentary:

🔸 "Broadcom's third quarter results reflect continued strength in our AI semiconductor solutions and VMware. We expect revenue from AI to be $12 billion for fiscal year 2024, driven by our networking and custom AI accelerators."