Broadcom Reports Record Financial Performance for Q4 and Fiscal Year 2024 with Quarterly Dividend Increase
Broadcom Inc., renowned for its innovation in semiconductor and infrastructure software solutions, has recently released its financial results for the fourth quarter and fiscal year 2024. The company reported a staggering revenue of $14,054 million for Q4, which represents a remarkable 51% increase from the same period last year. This continued growth trajectory has solidified Broadcom's position as a key player in the tech industry.
The highlight of this quarter's financial results was the net income of $4,324 million, reflecting effective operational strategies and robust demand for its products. Broadcom's adjusted EBITDA for the quarter reached $9,089 million, accounting for 65% of the company's revenue—a testament to its stringent cost management and operational efficiency.
President and CEO Hock Tan noted that for the overall fiscal year 2024, Broadcom achieved a record revenue of $51.6 billion, marking a year-over-year growth of 44%. Infrastructure software revenue notably surged to $21.5 billion, attributed to the successful integration of VMware into Broadcom's operations. Additionally, the semiconductor sector brought in a record $30.1 billion, with AI-related revenue alone escalating by an astonishing 220% year-on-year.
In terms of profitability, the financial results were equally impressive. For Q4, Broadcom's diluted earnings per share (EPS) stood at $0.90 on a GAAP basis, while non-GAAP diluted EPS was reported at $1.42. The company generated a significant cash flow from operations amounting to $5,604 million, ultimately achieving a free cash flow of $5,482 million for the quarter, equating to 39% of revenue.
One of the most notable updates from Broadcom is the announcement of an 11% increase in its quarterly dividend, now set at $0.59 per share, which will be payable to stockholders on December 31, 2024. This increase marks the fourteenth consecutive year of dividend growth since the company initiated its dividend payout in 2011. The anticipated annual dividend for fiscal year 2025 is projected to reach a record $2.36 per share.
Looking forward, Broadcom has projected guidance for the first quarter of fiscal year 2025, anticipating revenues of approximately $14.6 billion, representing a 22% increase from the previous year. Adjusted EBITDA is expected to remain robust at around 66% of projected revenue, indicating a strong outlook for ongoing profitability.
The strategic operational decisions and strong execution reflected in these results emphasize Broadcom's commitment to enhancing shareholder value while bolstering its industry leadership stance. With its innovative semiconductor solutions and continued investments in infrastructure software, Broadcom is well-positioned for sustained growth and success in the dynamic technology landscape.
As the company prepares for the upcoming fiscal year, Broadcom's ability to effectively navigate market complexities, coupled with an unwavering focus on delivering exceptional results, will be pivotal. The financial performance highlighted in this announcement serves not only to demonstrate Broadcom's present achievements but also its forward momentum into fiscal year 2025 and beyond.
The highlight of this quarter's financial results was the net income of $4,324 million, reflecting effective operational strategies and robust demand for its products. Broadcom's adjusted EBITDA for the quarter reached $9,089 million, accounting for 65% of the company's revenue—a testament to its stringent cost management and operational efficiency.
President and CEO Hock Tan noted that for the overall fiscal year 2024, Broadcom achieved a record revenue of $51.6 billion, marking a year-over-year growth of 44%. Infrastructure software revenue notably surged to $21.5 billion, attributed to the successful integration of VMware into Broadcom's operations. Additionally, the semiconductor sector brought in a record $30.1 billion, with AI-related revenue alone escalating by an astonishing 220% year-on-year.
In terms of profitability, the financial results were equally impressive. For Q4, Broadcom's diluted earnings per share (EPS) stood at $0.90 on a GAAP basis, while non-GAAP diluted EPS was reported at $1.42. The company generated a significant cash flow from operations amounting to $5,604 million, ultimately achieving a free cash flow of $5,482 million for the quarter, equating to 39% of revenue.
One of the most notable updates from Broadcom is the announcement of an 11% increase in its quarterly dividend, now set at $0.59 per share, which will be payable to stockholders on December 31, 2024. This increase marks the fourteenth consecutive year of dividend growth since the company initiated its dividend payout in 2011. The anticipated annual dividend for fiscal year 2025 is projected to reach a record $2.36 per share.
Looking forward, Broadcom has projected guidance for the first quarter of fiscal year 2025, anticipating revenues of approximately $14.6 billion, representing a 22% increase from the previous year. Adjusted EBITDA is expected to remain robust at around 66% of projected revenue, indicating a strong outlook for ongoing profitability.
The strategic operational decisions and strong execution reflected in these results emphasize Broadcom's commitment to enhancing shareholder value while bolstering its industry leadership stance. With its innovative semiconductor solutions and continued investments in infrastructure software, Broadcom is well-positioned for sustained growth and success in the dynamic technology landscape.
As the company prepares for the upcoming fiscal year, Broadcom's ability to effectively navigate market complexities, coupled with an unwavering focus on delivering exceptional results, will be pivotal. The financial performance highlighted in this announcement serves not only to demonstrate Broadcom's present achievements but also its forward momentum into fiscal year 2025 and beyond.
Topics Business Technology）
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