Broadcom Q2 2023 Earnings Report
Key Takeaways
Broadcom reported strong Q2 2023 results, with revenue up 8% year-over-year to $8.733 billion and adjusted EBITDA margin increasing to 65%. The company generated $4.4 billion in free cash flow and expects strong cash flows to continue in Q3.
Revenue for the second quarter was $8,733 million, an 8% increase from the prior year period.
Adjusted EBITDA for the second quarter reached $5,686 million.
Non-GAAP diluted EPS for the second quarter was $10.32; GAAP diluted EPS was $8.15.
The company repurchased and eliminated 5.6 million shares for $3,420 million.
Broadcom
Broadcom
Broadcom Revenue by Segment
Forward Guidance
Broadcom anticipates third quarter revenue of approximately $8.85 billion, representing a 5% increase year-over-year, and an adjusted EBITDA margin of approximately 65% of projected revenue.
Positive Outlook
- Third quarter revenue guidance of approximately $8.85 billion, an increase of 5 percent from the prior year period
- Third quarter Adjusted EBITDA guidance of approximately 65 percent of projected revenue
Revenue & Expenses
Visualization of income flow from segment revenue to net income