Broadcom — Dec 12, 2024 release

Announces Fourth Quarter and Fiscal Year 2024 Financial Results and Quarterly Dividend • Revenue of $14,054 million for the fourth quarter, up 51 percent from the prior year period • GAAP net income of $4,324 million for the fourth quarter; Non-GAAP net income of $6,965 million for the fourth quarter • Adjusted EBITDA of $9,089 million for the fourth quarter, or 65 percent of revenue • GAAP diluted EPS of $0.90 for the fourth quarter; Non-GAAP diluted EPS of $1.42 for the fourth quarter • Cash from operations of $5,604 million for the fourth quarter, less capital expenditures of $122 million, resulted in $5,482 million of free cash flow, or 39 percent of revenue • Quarterly common stock dividend increased by 11 percent from the prior quarter to $0.59 per share • First quarter fiscal year 2025 revenue guidance of approximately $14.6 billion, an increase of 22 percent from the prior year period • First quarter fiscal year 2025 Adjusted EBITDA guidance of approximately 66 percent of projected revenue (1) PALO ALTO, Calif. – December 12, 2024 – Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today reported financial results for its fourth quarter and fiscal year ended November 3, 2024, provided guidance for its first quarter of fiscal year 2025 and announced its quarterly dividend. “Broadcom’s fiscal year 2024 revenue grew 44% year-over-year to a record $51.6 billion, as infrastructure software revenue grew to $21.5 billion, on the successful integration of VMware,” said Hock Tan, President and CEO of Broadcom Inc. “Semiconductor revenue was a record $30.1 billion driven by AI revenue of $12.2 billion. AI revenue which grew 220 percent year-on-year was driven by our leading AI XPUs and Ethernet networking portfolio.” “In fiscal year 2024 adjusted EBITDA increased 37% year-over-year to a record $31.9 billion, and free cash flow excluding restructuring was strong at $21.9 billion,” said Kirsten Spears, CFO of Broadcom Inc. “B