12/8/2022, 10:23 PM (Source: TeleTrader)
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Broadcom reports revenue of $8.9 billion in Q4

Broadcom Inc. announced on Thursday that its revenue in the fourth quarter of fiscal 2022 landed at $8.9 billion, climbing 21% compared to the same period a year earlier and coming in slightly above estimates.

GAAP net income stood at $3.4 billion, or $7.83 per share, soaring from $2 billion, or $4.45 per share, reported in the fourth quarter of 2021. In full fiscal 2022, Broadcom's revenue jumped 21% to $33.2 billion, while net income amounted to $11.5 billion, or $26.53 per share.

"In fiscal 2022 we achieved record adjusted EBITDA margin of 63%, generating $16.3 billion in free cash flow or 49% of revenue, demonstrating our stable and focused business model," CEO Kirsten Spears stated.

Broadcom shares were up 3.56% in after-hours trading on better-than-expected results.

Baha Breaking News (BBN) / NP