Broadcom beats consensus with record revenues, issues upbeat guidance

seekingalpha2021-09-02

Broadcom is down 0.18% after hours following fiscal third-quarter results that topped expectations, including record revenues, and upbeat revenue guidance for the current quarter.

Consolidated revenue grew 16% to $6.8 billion, with help from some above-consensus results in infrastructure software.

And net income more than doubled to $1.88 billion from a year-ago $688 million.

"Broadcom delivered record revenues in the third quarter reflecting our product and technology leadership across multiple secular growth markets in cloud, 5G infrastructure, broadband, and wireless," says CEO Hock Tan. "We are projecting the momentum to continue in the fourth quarter."

Net revenue by segment: Semiconductor solutions, $5.02 billion (up 19%); Infrastructure software, $1.76 billion (up 9.7%).

Cash from operations was $3.54 billion, with $115 million spent on capital expenditures (free cash flow about $3.4 billion, "and we expect free cash flow to remain strong in the fourth quarter," says CFO Kirsten Spears).

Cash and equivalents came to $11.1 billion, up from $9.52 billion at the end of last quarter.

It's guiding to Q4 revenue of $7.35 billion, up 14% and above consensus for $7.24 billion, and expects adjusted EBITDA of about 61% of that (or $4.48 billion).

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Comments

  • JinkR
    2021-09-04
    JinkR
    Tell me your opinion about this news...
  • maxwellC
    2021-09-03
    maxwellC
    Great
  • Pluto891
    2021-09-03
    Pluto891
    what is infrastructure software? can name a specific product?
  • fishfire
    2021-09-03
    fishfire
    5G is a new era.. More devices will turn into 5G connection. Price drop is an apportunity to top up
  • LY1970
    2021-09-03
    LY1970
    Great
  • SSVC
    2021-09-03
    SSVC
    Yup Appreciate your response and comments Thanks 
    • Nez
      Done pls like and comment too thanks
    • SSVC
      [Strong][ShakeHands]
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