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Jul 30, 2023
Broadcom Q3 2023 Earnings Report
Broadcom's Q3 2023 financial results were announced, revealing revenue growth driven by demand for next-generation networking technologies, particularly from hyperscale customers scaling AI clusters.
Key Takeaways
Broadcom's third quarter revenue reached $8,876 million, a 5% increase year-over-year, with adjusted EBITDA at $5,801 million. The company reported a non-GAAP diluted EPS of $10.54 and a GAAP diluted EPS of $7.74. Looking ahead, Broadcom anticipates fourth quarter revenue of approximately $9.27 billion, representing a 4% increase from the prior year.
Revenue for the third quarter reached $8,876 million, a 5% increase compared to the previous year.
Adjusted EBITDA for the third quarter was $5,801 million.
Non-GAAP diluted EPS for the third quarter was $10.54, while GAAP diluted EPS was $7.74.
The company's fourth quarter revenue is projected to be approximately $9.27 billion, a 4% increase from the prior year.
Revenue by Segment
Forward Guidance
Broadcom anticipates fourth quarter revenue of approximately $9.27 billion, representing a 4% increase from the prior year. The company projects adjusted EBITDA to be approximately 65% of the projected revenue.
Positive Outlook
- Fourth quarter revenue guidance of approximately $9.27 billion.
- Projected revenue reflects a 4% increase from the prior year period.
- Fourth quarter Adjusted EBITDA guidance of approximately 65 percent of projected revenue
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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