Companies /Technology

Broadcom Inc

NASDAQ: AVGO Semiconductors
$357.16
▼ $10.08 (−2.74%) today
Markets closed · 9:01pm ET

Q4 2024 Earnings

Reported Dec 12, 2024, 4:23pm ET · SEC source
$1.42
Beat +2.04%
EPS · est. $1.39
$14.1B
Miss −0.05%
Revenue · est. $14.1B
+6.7%
Beating market
AVGO vs S&P since report
10 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−8%0+8%+16%Dec 12Dec 13report 4:23pm ETearnings−0.1%+19.2%
−8%0+8%+16%Dec 12Dec 13earnings−0.1%+19.2%
AVGO +19.2%S&P 500 −0.1%
−8%0+8%+16%Dec 12Dec 13report 4:23pm ETearnings+0.5%+19.2%
−8%0+8%+16%Dec 12Dec 13earnings+0.5%+19.2%
AVGO +19.2%NASDAQ +0.5%
0+20%+40%Dec 11Dec 20report 4:23pm ETearnings−2.1%+19.7%
0+20%+40%Dec 11Dec 20earnings−2.1%+19.7%
AVGO +19.7%S&P 500 −2.1%
0+20%+40%Dec 11Dec 20report 4:23pm ETearnings−1.3%+19.7%
0+20%+40%Dec 11Dec 20earnings−1.3%+19.7%
AVGO +19.7%NASDAQ −1.3%
+24.43%
Day of report
+11.21%
Next session
−1.78%
One week
+5.62%
30 days

S&P 500 over the same 30 days: −1.10%.

Did AVGO Beat Earnings? Q4 2024 Results

Broadcom posted a mixed but broadly impressive fourth quarter for fiscal 2024, with earnings per share of $1.42 beating the $1.39 consensus estimate by 2.16%, even as revenue of $14.05 billion came in just shy of the $14.18 billion Wall Street had expected, a gap of less than 1%. The top-line miss did little to obscure the bigger picture: revenue surged 51.2% year-over-year, powered in large part by the VMware integration, which drove infrastructure software sales up 196% to $5.82 billion for the quarter. AI demand was the other defining force, with CEO Hock Tan noting that AI revenue reached $12.20 billion for the full fiscal year, up 220% from the prior year. <a href="https://247wallst.com/ai-portfolio/2024/12/12/live-updates-will-broadcom-avgo-soar-after-tonights-earnings/">Investors watching closely</a> will now turn their attention to guidance, with Broadcom projecting Q1 fiscal 2025 revenue of approximately $14.60 billion, a 22% year-over-year increase, alongside adjusted EBITDA margins of roughly 66%.

Key Takeaways
  • AI revenue of $12.2 billion for FY2024, growing 220% year-on-year
  • Successful integration of VMware driving infrastructure software revenue growth of 196% YoY in Q4
  • Semiconductor solutions revenue up 12% YoY driven by AI XPUs and Ethernet networking
  • Adjusted EBITDA margin of 65% of revenue in Q4

“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.”

Broadcom CEO, on the earnings call

Forward Guidance & Outlook

For Q1 fiscal year 2025 (ending February 2, 2025), Broadcom expects revenue of approximately $14.6 billion, representing a 22% increase from the prior year period. Adjusted EBITDA is expected to be approximately 66% of projected revenue.

AVGO YoY Financials

Q4 2024 vs Q4 2023 · SEC filings Q4 2023 Q4 2024
$0$4.0B$8.0B$12.0B$9.3B$14.1BRevenue$6.4B$9.0BGross Profit$4.2B$4.6BOperating Income$3.5B$4.3BNet Income
$0$4.0B$8.0B$12.0BRevenueGross ProfitOperating IncomeNet Income

AVGO Revenue by Segment

Semiconductor Solutions$8.2B+12.0%
Infrastructure Software$5.8B+196.0%

Figures from SEC filings and company reports. Not investment advice.