Sina Science and Technology News Beijing time in the early morning of June 4, it is reported that Broadcom today released the company's financial results for the second quarter of fiscal year 2021. According to the report, Broadcom's second-quarter net revenue was $6.61 billion, up 15% from $5.742 billion in the same period last year, but down slightly from $6.655 billion in the previous quarter; net profit was $1.493 billion, up 165% from $563 million in the same period last year, compared with $1.378 billion in the previous quarter Net profit attributable to common shareholders was $1.417 billion, compared with $488 million in the same period last year and $1.304 billion in the previous quarter.

Broadcom's second-quarter revenue and adjusted earnings per share beat Wall Street analysts' expectations, and its revenue outlook for the third quarter also exceeded analysts' expectations, pushing its shares up slightly in after-hours trading.

Main achievements:

Broadcom's net profit for the quarter ended May 2 was $1.493 billion, while net profit attributable to common shareholders was $1.417 billion, or $3.30 per diluted share, much better than the same period last year and the previous quarter. By comparison, Broadcom's net profit for the first quarter of fiscal 2021 was $1.378 billion, attributable to common shareholders was $1.304 billion, or $3.05 per diluted share, and net profit for the second quarter of fiscal 2020 was $563 million. Net profit attributable to common shareholders was $488 million, or $1.17 per diluted share.

Excluding some one-time items (not in accordance with GAAP), Broadcom's adjusted net income for the second quarter was $2.98 billion, or $6.62 per diluted share, beating analysts' expectations. By comparison, Broadcom's adjusted net income from continuing operations in the second quarter of fiscal 2020 was $2.323 billion, or $5.14 per diluted share. On average, 26 analysts had expected Broadcom's second-quarter earnings per share to reach $6.42, according to Yahoo Finance.

Broadcom's second-quarter net revenue was $6.61 billion, up 15% from $5.742 billion in the same period last year, but down slightly from $6.655 billion in the previous quarter, which also beat analysts' expectations. On average, 25 analysts had expected Broadcom's second-quarter revenue to reach $6.51 billion, according to Yahoo Finance.

By department, Broadcom's net revenue from semiconductor solutions business in the second quarter was $4.82 billion, up 20% from $4.027 billion in the same period last year, accounting for 73% of the total net revenue. compared with 70% in the same period last year Net revenue from the infrastructure software business was $1.79 billion, up 4 per cent from $1.715 billion in the same period last year and accounting for 27 per cent of total net revenue, compared with 30 per cent in the same period last year.

Broadcom's operating expenses were $2.082 billion in the second quarter, compared with $2.115 billion in the previous quarter and $2.423 billion in the same period last year. Of this total, R & D expenditure was $1.238 billion, compared with $1.211 billion in the previous quarter and $1.269 billion in the same period last year, while sales, general and administrative expenses were $325 million, compared with $339 million in the previous quarter and $501 million in the same period last year. Amortization of intangibles related to mergers and acquisitions was $494 million, compared with $494 million in the previous quarter, compared with $599 million in the same period last year, and restructuring, impairment and disposal expenses were $25 million, compared with $71 million in the previous quarter and $54 million in the same period last year. Without GAAP, Broadcom's operating expenses were $1.15 billion in the second quarter, compared with $1.096 billion in the previous quarter and $1.165 billion in the same period last year.

Broadcom's second-quarter gross profit was $4.057 billion, compared with $3.952 billion in the previous quarter and $3.189 billion in the same period last year. Without GAAP, Broadcom's second-quarter gross profit was $4.952 billion, compared with $4.876 billion in the previous quarter and $4.196 billion in the same period last year.

Broadcom's second-quarter operating profit was $1.975 billion, compared with $1.837 billion in the previous quarter and $766 million in the same period last year. Without GAAP, Broadcom's operating profit in the second quarter was $3.802 billion, compared with $3.78 billion in the previous quarter, and $3.031 billion in the same period last year.

Without GAAP, Broadcom's adjusted EBITDA for the second quarter was $3.96 billion, compared with $3.209 billion in the same period last year.

Cash and dividend related news:

Broadcom's cash from business operations in the second quarter was $3.569 billion, compared with $3.213 billion in the same period last year, and capital expenditure was $126 million. Broadcom's free cash flow was $3.443 billion in the second quarter, compared with $3.065 billion in the same period last year. Broadcom's cash and cash equivalents totaled $9.518 billion at the end of the second quarter, compared with $9.552 billion at the end of the previous quarter.

On March 31, 2021, Broadcom paid a cash dividend of $3.60 per common share, with a total cost of $1.477 billion per common share and a cash dividend of $20.00 per mandatory convertible preferred share. the total amount of money spent on the cash dividend was $75 million.

The board of directors of Broadcom has approved a quarterly cash dividend of $3.60 per common share, it will be paid on June 30, 2021 to shareholders of record until the close of business hours on June 22, 2021 at 5: 00 p.m. et (5: 00 a.m. Beijing time, June 23, 2021).

In addition, Broadcom's board of directors has approved a quarterly cash dividend of $20.00 per mandatory convertible preferred share, which will be paid on June 30, 2021 to shareholders of record until the close of business hours on June 15, 2021 at 5: 00 p.m. est (5: 00 a.m. on June 16, 2021).

Performance outlook:

Broadcom expects net revenue in the third quarter of the 2021 fiscal year to be about $6.75 billion, exceeding analysts' expectations; without GAAP, adjusted EBITDA is expected to account for about 60 per cent of expected revenues. On average, 26 analysts had expected Broadcom's third-quarter revenue to reach $6.59 billion, according to Yahoo Finance.

Changes in stock prices:

On the same day, Broadcom shares traded on Nasdaq.In regular trading, it fell $8.93, or 1.89 per cent, to $464.80. In after-hours trading as of 04:29 EDT on the 3rd (04:29 Beijing time on the 4th), Broadcom shares rose 2.20 U.S. dollars, or 0.47 percent, to 467.00 dollars. Over the past 52 weeks, Broadcom's highest price is $495.14 and its lowest price is $292.41.