"Broadcom's fiscal year 2024 revenue grew 44% year-over-year to a record $51.6 billion, as infrastructure software revenue grew to $21.5 billion, on the successful integration of VMware," said Hock Tan, President and CEO of Broadcom Inc. "Semiconductor revenue was a record $30.1 billion driven by AI revenue of $12.2 billion. AI revenue which grew 220 percent year-on-year was driven by our leading AI XPUs and Ethernet networking portfolio."
"In fiscal year 2024 adjusted EBITDA increased 37% year-over-year to a record $31.9 billion, and free cash flow excluding restructuring was strong at $21.9 billion," said Kirsten Spears, CFO of Broadcom Inc. "Based on increased cash flows in fiscal year 2024, we are increasing our quarterly common stock dividend by 11% to $0.59 per share for fiscal year 2025. The target fiscal year 2025 annual common stock dividend of $2.36 per share is a record, and the fourteenth consecutive increase in annual dividends since we initiated dividends in fiscal 2011."
(1) The Company is not readily able to provide a reconciliation of the projected non-GAAP financial information presented to the relevant projected GAAP measure without unreasonable effort. |
Fourth Quarter Fiscal Year 2024 Financial Highlights
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| GAAP |
| Non-GAAP | ||||||||||||||
(Dollars in millions, except per share data) |
| Q4 24 |
| Q4 23 |
| Change |
| Q4 24 |
| Q4 23 |
| Change | ||||||
Net revenue |
| $ | 14,054 |
| $ | 9,295 |
| +51 | % | $ | 14,054 |
| $ | 9,295 |
| +51 | % | |
Net income |
| $ | 4,324 |
| $ | 3,524 |
| +$ 800 |
|
| $ | 6,965 |
| $ | 4,810 |
| +$ 2,155 |
|
| Earnings per common share - diluted * |
| $ | 0.90 |
| $ | 0.83 |
| +$ 0.07 |
|
| $ | 1.42 |
| $ | 1.11 |
| +$ 0.31 |
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| (Dollars in millions) |
| Q4 24 |
| Q4 23 |
| Change | ||
| Cash flow from operations | $ | 5,604 |
| $ | 4,828 |
| +$ 776 | |
| Adjusted EBITDA |
| $ | 9,089 |
| $ | 6,048 |
| +$ 3,041 |
| Free cash flow |
| $ | 5,482 |
| $ | 4,723 |
| +$ 759 |
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| Net revenue by segment |
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| (Dollars in millions) |
| Q4 24 |
| Q4 23 |
| Change | |||||||||
| Semiconductor solutions |
| $ | 8,230 |
| 59 | % | $ | 7,326 |
| 79 | % | +12 | % | ||
| Infrastructure software |
|
| 5,824 |
| 41 |
|
|
| 1,969 |
| 21 |
|
| +196 | % |
| Total net revenue |
| $ | 14,054 |
| 100 | % |
| $ | 9,295 |
| 100 | % |
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| * On July 12, 2024, the Company completed a ten-for-one forward stock split. All per share amounts presented reflect the stock split. | |||||||||||||||
