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May 05, 2024
Broadcom Q2 2024 Earnings Report
Broadcom's Q2 2024 financial results were driven by AI demand and VMware, with revenue up 43% year-over-year.
Key Takeaways
Broadcom's second quarter results were driven by AI demand and VMware. Revenue from AI products was a record $3.1 billion. The company is raising its fiscal year 2024 guidance for consolidated revenue to $51 billion and adjusted EBITDA to 61% of revenue.
Revenue of $12,487 million, up 43% from the prior year period.
GAAP net income of $2,121 million; Non-GAAP net income of $5,394 million.
Adjusted EBITDA of $7,429 million, or 59% of revenue.
GAAP diluted EPS of $4.42; Non-GAAP diluted EPS of $10.96.
Revenue by Segment
Forward Guidance
Fiscal year 2024 revenue guidance of approximately $51.0 billion and Adjusted EBITDA guidance of approximately 61 percent of projected revenue.
Positive Outlook
- Fiscal year 2024 revenue guidance of approximately $51.0 billion
- Fiscal year 2024 Adjusted EBITDA guidance of approximately 61 percent of projected revenue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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