Broadcom redefines the technological landscape in the first fiscal quarter of 2024 with record-breaking results.

Broadcom Inc., the globally recognized technology giant known for its design, development, and supply of semiconductor solutions and infrastructure software, has reported impressive financial results for the first quarter of fiscal year 2024, ending on February 4, 2024. With these results, Broadcom not only demonstrates its financial strength but also solidifies its position as a leader in the global market, exceeding expectations and marking a milestone in its journey.

During this quarter, Broadcom achieved revenue of $11.961 billion (approximately 11.000 billion euros), representing a 34% increase compared to the same period last year. This significant revenue growth highlights Broadcom’s continued success in its operations and its ability to adapt and lead in a constantly evolving technology market.

Cash flow from operations was $4.815 billion (approximately 4.460 billion euros), of which, after deducting capital expenditures of $122 million (approximately 113 million euros), resulted in free cash flow of $4.693 billion (approximately 4.343 billion euros), or 39% of revenue. This reflects Broadcom’s operational efficiency and commitment to financial sustainability.

Net income under Generally Accepted Accounting Principles (GAAP) was $1.325 billion (approximately 1.226 billion euros) for the first quarter, while non-GAAP net income was $5.254 billion (approximately 4.862 billion euros), demonstrating the company’s solid profitability.

One of the key drivers behind Broadcom’s impressive performance has been its strategic focus on generative artificial intelligence (AI), particularly through its acquisition of VMware, which is accelerating revenue growth in its infrastructure software segment. Strong demand for its networking products in AI data centers, as well as custom AI accelerators by hyperscalers, is driving growth in its semiconductor segment.

Broadcom has also announced its financial guidance for fiscal year 2024, expecting revenue of approximately $50.000 billion (approximately 46.260 billion euros), representing a 40% increase from the previous year, with adjusted EBITDA guidance of approximately 60% of projected revenues.

This financial performance not only underscores Broadcom’s undisputed leadership in the technology sector but also reflects its strategic vision and innovation capabilities, positioning the company favorably to continue its growth trajectory in the near future. With a solid product portfolio and a focus on future technologies, Broadcom is well positioned to lead the global digital transformation.

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