Broadcom Q1 2021 Earnings Report
Key Takeaways
Broadcom Inc. reported a 14% increase in revenue to $6,655 million for the first quarter of fiscal year 2021. GAAP net income was $1,378 million, with diluted EPS of $3.05. The company generated $2,999 million in free cash flow and provided guidance for the second quarter, projecting revenue of approximately $6.5 billion and adjusted EBITDA of approximately 59% of projected revenue.
Revenue for the first quarter reached $6,655 million, a 14% increase year-over-year.
GAAP net income for the first quarter was $1,378 million, with an adjusted EBITDA of $3,941 million.
GAAP diluted EPS was $3.05 for the first quarter, while non-GAAP diluted EPS was $6.61.
Free cash flow from operations was $2,999 million for the first quarter.
Broadcom
Broadcom
Broadcom Revenue by Segment
Forward Guidance
For the second quarter of fiscal year 2021, Broadcom expects revenue of approximately $6.5 billion and adjusted EBITDA of approximately 59 percent of projected revenue.
Positive Outlook
- Second quarter revenue guidance of approximately $6.5 billion.
- Expected revenue increase of 13 percent from the prior year period.
- Second quarter Adjusted EBITDA guidance of approximately 59 percent of projected revenue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income