12/7/2023, 10:16 PM (Source: TeleTrader)
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Broadcom books $9.3B in revenue in Q4, tops estimates

Broadcom Inc. announced on Thursday that it wrapped its final quarter of fiscal 2023 with $9.3 billion in revenue, marking a 4% increase from the corresponding trimester a year earlier. The figure came in slightly higher than estimated.

In the reported quarter, the company's net income stood at $3.5 billion or $8.25 per share, rising by 5% in comparison to the fourth trimester of 2022. Broadcom's net revenue jumped by 8% on an annual basis to $35.8 billion for the entire fiscal 2023, while net income amounted to $14.1 billion or $32.98 per share.

"The acquisition of VMware is transformational. In fiscal year 2024, we expect semiconductor to sustain its mid to high single-digit revenue growth rate, with the contribution of VMware driving consolidated revenue to $50 billion," CEO Hock Tan said. The company's shares were down 3.09% in the extended trading, going for $897.30 apiece.

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