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Broadcom | 8-K: Broadcom Inc. Announces Second Quarter Fiscal Year 2024 Financial Results and Quarterly Dividend

SEC announcement ·  Jun 13 04:23
Summary by Futu AI
On June 12, 2024, Broadcom Inc. released its unaudited financial results for the second quarter ending May 5, 2024, revealing a significant 43% increase in revenue to $12.487 billion compared to the previous year. The company's GAAP net income was reported at $2.121 billion, with non-GAAP net income at $5.394 billion. Adjusted EBITDA stood at $7.429 billion, representing 59% of revenue. Broadcom also reported a GAAP diluted EPS of $4.42 and a non-GAAP diluted EPS of $10.96. The company generated $4.580 billion in cash from operations, resulting in $4.448 billion of free cash flow, which is 36% of revenue. Additionally, Broadcom announced a quarterly cash dividend of $5.25 per share, payable on June 28, 2024, to stockholders of record as of June 24, 2024. Furthermore, the company declared a ten-for-one forward stock split, with trading on a split-adjusted basis expected to begin on July 15, 2024. Broadcom's fiscal 2024 annual revenue guidance is approximately $51.0 billion, including contributions from VMware, marking a 42% increase from the prior year. The annual Adjusted EBITDA guidance is projected at about 61% of the anticipated revenue.
On June 12, 2024, Broadcom Inc. released its unaudited financial results for the second quarter ending May 5, 2024, revealing a significant 43% increase in revenue to $12.487 billion compared to the previous year. The company's GAAP net income was reported at $2.121 billion, with non-GAAP net income at $5.394 billion. Adjusted EBITDA stood at $7.429 billion, representing 59% of revenue. Broadcom also reported a GAAP diluted EPS of $4.42 and a non-GAAP diluted EPS of $10.96. The company generated $4.580 billion in cash from operations, resulting in $4.448 billion of free cash flow, which is 36% of revenue. Additionally, Broadcom announced a quarterly cash dividend of $5.25 per share, payable on June 28, 2024, to stockholders of record as of June 24, 2024. Furthermore, the company declared a ten-for-one forward stock split, with trading on a split-adjusted basis expected to begin on July 15, 2024. Broadcom's fiscal 2024 annual revenue guidance is approximately $51.0 billion, including contributions from VMware, marking a 42% increase from the prior year. The annual Adjusted EBITDA guidance is projected at about 61% of the anticipated revenue.
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