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Aug 04, 2024
Broadcom Q3 2024 Earnings Report
Broadcom's Q3 2024 financial results were announced, revealing a significant revenue increase driven by AI semiconductor solutions and VMware.
Key Takeaways
Broadcom's Q3 2024 results showed strong revenue growth, up 47% year-over-year to $13.1 billion, driven by AI semiconductor solutions and the inclusion of VMware. The company reported a GAAP net loss of $1.875 billion, but a non-GAAP net income of $6.120 billion. Looking forward, Broadcom anticipates continued growth, projecting approximately $14.0 billion in revenue for Q4 2024.
Revenue reached $13,072 million, a 47% increase compared to the prior year.
GAAP net loss was $1,875 million, while non-GAAP net income amounted to $6,120 million.
Adjusted EBITDA was $8,223 million, representing 63% of revenue.
Q4 2024 revenue is projected to be approximately $14.0 billion, including VMware's contribution.
Revenue by Segment
Forward Guidance
Broadcom anticipates approximately $14.0 billion in revenue for Q4 2024, including VMware, which represents a 51% increase from the prior year. Adjusted EBITDA is projected to be approximately 64% of the projected revenue.
Positive Outlook
- Fourth quarter revenue guidance of approximately $14.0 billion.
- Includes contribution from VMware.
- Represents an increase of 51% from the prior year period.
- Fourth quarter Adjusted EBITDA guidance of approximately 64% of projected revenue.
- Integration of VMware is driving adjusted EBITDA margin to 64% of revenue as we exit fiscal year 2024.
Challenges Ahead
- Actual results will vary from the guidance and the variations may be material.
- Global economic conditions and concerns
- Government regulations and administrative proceedings, trade restrictions and trade tensions
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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