Companies /Technology
Broadcom Inc
NASDAQ: AVGO Semiconductors
$376.51
▲ $0.70 (+0.19%) today
Markets closed · 5:14pm ET

Broadcom (AVGO) 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

How Did AVGO Stock React to Q4 2024 Earnings?

% change · around the report
0+8%+16%Dec 12Dec 13report 4:23pm ETearnings−0.1%+19.2%
0+8%+16%Dec 12Dec 13earnings−0.1%+19.2%
AVGO +19.2%S&P 500 −0.1%
0+8%+16%Dec 12Dec 13report 4:23pm ETearnings+0.5%+19.2%
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

Yes. Broadcom reported Q4 2024 earnings of $1.42 a share on Dec 12, 2024, beating the $1.39 consensus estimate by 2.0%. Revenue was $14.1B against a $14.1B estimate.

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

What Was Broadcom's Outlook in Q4 2024?

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 income statement, Q4 2024 versus Q4 2023
Metric Q4 2024 Q4 2023 Year over year
Revenue $14.1B $9.3B +51.2%
Gross Profit $9.0B $6.4B +40.5%
Operating Income $4.6B $4.2B +9.1%
Net Income $4.3B $3.5B +22.7%

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.