Broadcom Q3 2022 Earnings Report
Key Takeaways
Broadcom's Q3 2022 results showed strong year-over-year growth, driven by demand across cloud, service providers, and enterprise sectors. Revenue reached $8.464 billion, a 25% increase from the prior year, and the company generated $4.308 billion in free cash flow. Broadcom expects continued solid demand in Q4, with revenue guidance of approximately $8.9 billion.
Revenue for the third quarter was $8.464 billion, up 25% year-over-year.
GAAP net income for the third quarter was $3.074 billion.
GAAP diluted EPS for the third quarter was $7.15; Non-GAAP diluted EPS was $9.73.
Free cash flow for the third quarter was $4.308 billion, representing 51% of revenue.
Broadcom
Broadcom
Broadcom Revenue by Segment
Forward Guidance
Broadcom anticipates continued strong demand, projecting fourth-quarter revenue of approximately $8.9 billion, which represents a 20 percent increase from the prior year period. Adjusted EBITDA is expected to be approximately 63 percent of projected revenue.
Positive Outlook
- Fourth quarter revenue guidance of approximately $8.9 billion.
- Projected 20% increase in revenue from the prior year period.
- Adjusted EBITDA guidance of approximately 63% of projected revenue.
- Expect solid demand across end markets.
- Continued investment by customers of next generation technologies in data centers, broadband, and wireless.
Revenue & Expenses
Visualization of income flow from segment revenue to net income