Broadcom Inc. Announces Fourth Quarter and Fiscal Year 2024 Financial Results and Quarterly Dividend

The Company's cash and cash equivalents at the end of the fiscal quarter were $9,348 million, compared to $9,952 million at the end of the prior quarter.

During the fourth fiscal quarter, the Company generated $5,604 million in cash from operations and spent $122 million on capital expenditures. The Company paid $1,204 million of withholding taxes related to net settled equity awards that vested in the quarter (resulting in the elimination of 7.4 million shares).

On September 30, 2024, the Company paid a cash dividend on a split adjusted basis of $0.53 per share, totaling $2,484 million.

The differences between the Company's GAAP and non-GAAP results are described generally under "Non-GAAP Financial Measures" below and presented in detail in the financial reconciliation tables attached to this release.

Fiscal Year 2024 Financial Highlights



GAAP


Non-GAAP

(Dollars in millions, except per share data)


FY 24


FY 23


Change


FY 24


FY 23


Change

Net revenue


$

51,574


$

35,819


+44

%

$

51,574


$

35,819


+44

%

Net income


$

5,895


$

14,082


-$  8,187



$

23,733


$

18,378


+$   5,355


Earnings per common share - diluted *


$

1.23


$

3.30


-$    2.07



$

4.87


$

4.22


+$     0.65





















(Dollars in millions)


FY 24


FY 23


Change

Cash flow from operations                                                                              

$

19,962


$

18,085


+$    1,877

Adjusted EBITDA


$

31,897


$

23,213


+$    8,684

Free cash flow


$

19,414


$

17,633


+$    1,781

















Net revenue by segment
















(Dollars in millions)


FY 24


FY 23


Change

Semiconductor solutions                                                                      


$

30,096


58

%

$

28,182


79

%

+7

%

Infrastructure software



21,478


42




7,637


21



+181

%

Total net revenue


$

51,574


100

%


$

35,819


100

%





*  On July 12, 2024, the Company completed a ten-for-one forward stock split. All per share amounts presented reflect the stock split.


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