Broadcom reports Q2 revenue up 43% YoY to $12.49B, vs. $12.01B est., raises FY 2024 revenue forecast, announces a 10:1 stock split; AVGO jumps 9%+
Reuters Arsheeya Bajwa
Related Coverage
- Broadcom Inc. Announces Second Quarter Fiscal Year 2024 Financial Results and Quarterly Dividend Broadcom Inc.
- Broadcom Reclaims the AI Stock Spotlight. Why Analysts Think There's More to Come. Barron's Online · Adam Clark
- View article Quartz
- Broadcom (AVGO) Receives a Rating Update from a Top Analyst Business Insider · Tipranks
- Analysts revise Broadcom stock price target after earnings Finbold · Elmaz Sabovic
- Broadcom beats forecasts as revenues boosted by VMWare acquisition, AI sales Proactive
- Broadcom's stock rises on strong AI chip sales and improved annual sales forecast SiliconANGLE · Mike Wheatley
- Broadcom Revenue Jumps 43% on AI Chip Demand The Information · Julia Hornstein
- Broadcom Q2 Earnings: Revenue, EPS Beat Driven By Strong AI Demand, Guidance Raise, Stock Split And More Benzinga · Adam Eckert
- Broadcom delivers strong fiscal Q2 on AI demand, splits stock 10-for-1 Constellation Research · Larry Dignan
- Broadcom in charts: semiconductor solutions dips Q/Q, while infrastructure software jumps Seeking Alpha · Jaskiran Singh
- Broadcom Non-GAAP EPS of $10.96 beats by $0.12, revenue of $12.49B beats by $480M Seeking Alpha · Pranav Ghumatkar
- Broadcom to Enact 10-for-1 Stock Split Wall Street Journal · Ben Glickman
- Broadcom follows Nvidia's lead with plan for a stock split MarketWatch · Emily Bary
- Broadcom Sets 10-For-1 Stock Split and Posts Strong Earnings. The Stock Is Rising. Barron's Online · Eric J. Savitz
- Broadcom beats earnings estimates, announces 10-for-1 stock split CNBC · Kif Leswing
- VMware revenues appear to plummet, but Broadcom says everything is fine TechRadar
- Strong AI revenue growth offsets weakness of Broadcom DigiTimes
Discussion
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@ericjhonsa
Eric Jhonsa
on x
A pretty good report across both AI/networking and VMware. But TBH, $AVGO's 12.5% AH feels a bit much (stock-split euphoria is clearly a factor). Trimmed my position a little AH.
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@ericjhonsa
Eric Jhonsa
on x
On its call, $AVGO: - Raised its FY24 AI revenue guide to $11B+ from $10B+, with Hock hinting in the Q&A that sales could end up being higher - Disclosed VMware's annualized bookings value (ABV) rose $700M Q/Q to $1.9B, leading total software ABV to rise $900M to $2.8B - Says
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@thetranscript_
@thetranscript_
on x
Broadcom double bea + Raises FY guidance + Announces a 10 for 1 stock split CEO: “...[Q2] results were once again driven by AI demand and VMware. Revenue from our AI products was a record $3.1B during the quarter” $AVGO: +9.3% AH [image]
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@economyapp
@economyapp
on x
$AVGO Broadcom Q2 FY24. VMWare acquisition completed in November 2023 (impacting infrastructure software segment). • Revenue +43% Y/Y to $12.5B ($480M beat). • Non-GAAP EPS $10.96 ($0.12 beat). FY24 guidance • Revenue ~$51B ($50.3B expected). • Adjusted EBITDA margin ~61% [image]
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@thetranscript_
@thetranscript_
on x
$AVGO CFO: “Consolidated revenue grew 43% year-over-year to $12.5 billion, including the contribution from VMware, and was up 12% year-over-year, excluding VMware” [image]