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Feb 02, 2020
Broadcom Q1 2020 Earnings Report
Broadcom's Q1 2020 financial results were announced.
Key Takeaways
Broadcom reported first quarter revenue of $5.858 billion and GAAP net income of $385 million. The company's networking, storage, and broadband businesses grew year-over-year. They are withdrawing their annual guidance due to COVID-19 uncertainties.
Revenue was $5,858 million.
GAAP net income was $385 million.
GAAP diluted EPS was $0.74; Non-GAAP diluted EPS was $5.25.
Free cash flow from operations was $2,214 million.
Broadcom
Broadcom
Broadcom Revenue by Segment
Forward Guidance
Broadcom is providing quarterly guidance for the second quarter of fiscal year 2020 and withdrawing prior annual guidance due to uncertainties from COVID-19.
Positive Outlook
- Second quarter revenue guidance of $5.7 billion plus or minus $150 million
- Second quarter Adjusted EBITDA guidance of $3,135 million plus or minus $75 million, or 55% of revenue at the midpoint of guidance
Challenges Ahead
- Uncertainties in the global business environment arising from the effects of COVID-19
- Company is withdrawing its prior annual guidance for fiscal year 2020
Revenue & Expenses
Visualization of income flow from segment revenue to net income