Broadcom Inc. Announces First Quarter Fiscal Year 2022 Financial Results and Quarterly Dividends

- Revenue of $7,706 million for the first quarter, up 16 percent from the prior year period

SAN JOSE, Calif., March 3, 2022 — (PRNewswire) — Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today reported financial results for its first quarter of fiscal year 2022, ended January 30, 2022, provided guidance for the second quarter of its fiscal year 2022 and announced its quarterly dividends.

"Broadcom's record first quarter results were driven by strong enterprise demand, and continued investments in next generation technology by hyperscale and service providers," said Hock Tan, President and CEO of Broadcom Inc. "Our second quarter outlook projects year-over-year growth to accelerate."

"Consolidated revenue grew 16% year-over-year to a record $7.7 billion and operating profit increased 23%," said Kirsten Spears, CFO of Broadcom Inc. "We generated $3.4 billion in free cash flow and are expecting free cash flow to remain strong in the second quarter. Consistent with our commitment to return excess cash to shareholders, we returned $4.5 billion to shareholders in the quarter including $1.8 billion of cash dividends and $2.7 billion of share repurchases."

First Quarter Fiscal Year 2022 Financial Highlights   



GAAP


Non-GAAP

(Dollars in millions, except per share data)


Q1 22


Q1 21


Change


Q1 22


Q1 21


Change

Net revenue


$

7,706


$

6,655



+16%


$

7,706


$

6,655



+16%

Net income


$

2,472


$

1,378


+$

1,094


$

3,741


$

2,973


+$

768

Earnings per common share - diluted


$

5.59


$

3.05


+$

2.54


$

8.39


$

6.61


+$

1.78




















(Dollars in millions)












Q1 22


Q1 21


Change



Cash flow from operations












$

3,486


$

3,113


+$

373



Adjusted EBITDA












$

4,818


$

3,941


+$

877



Free cash flow












$

3,385


$

2,999


+$

386

























Net revenue by segment





























(Dollars in millions)












Q1 22


Q1 21


Change




Semiconductor solutions












$

5,873



76%


$

4,908



74%


+20%




Infrastructure software













1,833



24



1,747



26


+5%




    Total net revenue












$

7,706



100%


$

6,655



100%








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