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Broadcom Inc. Announces First Quarter Fiscal Year 2025 Financial Results and Quarterly Dividend

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Broadcom (AVGO) reported strong Q1 FY2025 financial results with revenue reaching $14.916 billion, up 25% year-over-year. The company's AI semiconductor solutions revenue grew 77% to $4.1 billion, while infrastructure software revenue increased 47% to $6.7 billion.

Key financial metrics include:

  • GAAP net income: $5,503 million
  • Non-GAAP net income: $7,823 million
  • Adjusted EBITDA: $10,083 million (68% of revenue)
  • Free cash flow: $6,013 million (40% of revenue)

For Q2 FY2025, Broadcom expects revenue of approximately $14.9 billion, representing a 19% year-over-year increase, with projected Adjusted EBITDA at 66% of revenue. The company declared a quarterly dividend of $0.59 per share, payable on March 31, 2025.

Broadcom (AVGO) ha riportato risultati finanziari solidi per il primo trimestre dell'anno fiscale 2025, con ricavi che hanno raggiunto 14,916 miliardi di dollari, in aumento del 25% rispetto all'anno precedente. I ricavi delle soluzioni semiconduttori per l'IA dell'azienda sono cresciuti del 77% a 4,1 miliardi di dollari, mentre i ricavi del software per infrastrutture sono aumentati del 47% a 6,7 miliardi di dollari.

I principali indicatori finanziari includono:

  • Utile netto GAAP: 5.503 milioni di dollari
  • Utile netto non GAAP: 7.823 milioni di dollari
  • EBITDA rettificato: 10.083 milioni di dollari (68% dei ricavi)
  • Flusso di cassa libero: 6.013 milioni di dollari (40% dei ricavi)

Per il secondo trimestre dell'anno fiscale 2025, Broadcom prevede ricavi di circa 14,9 miliardi di dollari, con un aumento del 19% rispetto all'anno precedente, e un EBITDA rettificato previsto al 66% dei ricavi. L'azienda ha dichiarato un dividendo trimestrale di 0,59 dollari per azione, pagabile il 31 marzo 2025.

Broadcom (AVGO) reportó resultados financieros sólidos para el primer trimestre del año fiscal 2025, con ingresos que alcanzaron 14.916 millones de dólares, un aumento del 25% en comparación con el año anterior. Los ingresos de las soluciones de semiconductores de IA de la empresa crecieron un 77% hasta 4.1 mil millones de dólares, mientras que los ingresos por software de infraestructura aumentaron un 47% hasta 6.7 mil millones de dólares.

Los principales indicadores financieros incluyen:

  • Ingreso neto GAAP: 5,503 millones de dólares
  • Ingreso neto no GAAP: 7,823 millones de dólares
  • EBITDA ajustado: 10,083 millones de dólares (68% de los ingresos)
  • Flujo de caja libre: 6,013 millones de dólares (40% de los ingresos)

Para el segundo trimestre del año fiscal 2025, Broadcom espera ingresos de aproximadamente 14.9 mil millones de dólares, lo que representa un aumento del 19% en comparación con el año anterior, con un EBITDA ajustado proyectado del 66% de los ingresos. La compañía declaró un dividendo trimestral de 0.59 dólares por acción, pagadero el 31 de marzo de 2025.

브로드컴 (AVGO)는 2025 회계연도 1분기 재무 결과가 강력하다고 보고하며, 매출이 149억 1천6백만 달러에 달해 전년 대비 25% 증가했다고 발표했습니다. 회사의 AI 반도체 솔루션 매출은 77% 증가하여 41억 달러에 이르렀고, 인프라 소프트웨어 매출은 47% 증가하여 67억 달러에 달했습니다.

주요 재무 지표는 다음과 같습니다:

  • GAAP 순이익: 55억 3천만 달러
  • 비 GAAP 순이익: 78억 2천3백만 달러
  • 조정 EBITDA: 100억 8천3백만 달러 (매출의 68%)
  • 자유 현금 흐름: 60억 1천3백만 달러 (매출의 40%)

2025 회계연도 2분기 동안 브로드컴은 약 149억 달러의 매출을 예상하며, 이는 전년 대비 19% 증가한 수치이며, 조정 EBITDA는 매출의 66%로 예상하고 있습니다. 회사는 주당 0.59달러의 분기 배당금을 선언했으며, 2025년 3월 31일에 지급될 예정입니다.

Broadcom (AVGO) a annoncé de solides résultats financiers pour le premier trimestre de l'exercice 2025, avec un chiffre d'affaires atteignant 14,916 milliards de dollars, en hausse de 25% par rapport à l'année précédente. Les revenus des solutions de semi-conducteurs pour l'IA de l'entreprise ont augmenté de 77% pour atteindre 4,1 milliards de dollars, tandis que les revenus des logiciels d'infrastructure ont augmenté de 47% pour atteindre 6,7 milliards de dollars.

Les principaux indicateurs financiers incluent :

  • Revenu net GAAP : 5 503 millions de dollars
  • Revenu net non GAAP : 7 823 millions de dollars
  • EBITDA ajusté : 10 083 millions de dollars (68% du chiffre d'affaires)
  • Flux de trésorerie libre : 6 013 millions de dollars (40% du chiffre d'affaires)

Pour le deuxième trimestre de l'exercice 2025, Broadcom prévoit un chiffre d'affaires d'environ 14,9 milliards de dollars, représentant une augmentation de 19% par rapport à l'année précédente, avec un EBITDA ajusté projeté à 66% du chiffre d'affaires. L'entreprise a déclaré un dividende trimestriel de 0,59 dollar par action, payable le 31 mars 2025.

Broadcom (AVGO) hat starke Finanzzahlen für das erste Quartal des Geschäftsjahres 2025 veröffentlicht, mit einem Umsatz von 14,916 Milliarden Dollar, was einem Anstieg von 25% im Vergleich zum Vorjahr entspricht. Der Umsatz aus den KI-Halbleiterlösungen des Unternehmens wuchs um 77% auf 4,1 Milliarden Dollar, während der Umsatz aus Infrastruktursoftware um 47% auf 6,7 Milliarden Dollar stieg.

Wichtige Finanzkennzahlen sind:

  • GAAP-Nettoeinkommen: 5.503 Millionen Dollar
  • Non-GAAP-Nettoeinkommen: 7.823 Millionen Dollar
  • Bereinigtes EBITDA: 10.083 Millionen Dollar (68% des Umsatzes)
  • Freier Cashflow: 6.013 Millionen Dollar (40% des Umsatzes)

Für das zweite Quartal des Geschäftsjahres 2025 erwartet Broadcom einen Umsatz von etwa 14,9 Milliarden Dollar, was einem Anstieg von 19% im Vergleich zum Vorjahr entspricht, mit einem prognostizierten bereinigten EBITDA von 66% des Umsatzes. Das Unternehmen hat eine vierteljährliche Dividende von 0,59 Dollar pro Aktie erklärt, die am 31. März 2025 zahlbar ist.

Positive
  • Revenue up 25% YoY to $14.916B
  • AI semiconductor revenue grew 77% YoY to $4.1B
  • Infrastructure software revenue up 47% YoY to $6.7B
  • Adjusted EBITDA increased 41% YoY to $10.1B
  • Free cash flow up 28% YoY to $6.0B
  • Strong Q2 guidance with 19% YoY revenue growth
Negative
  • Cash and equivalents decreased to $9,307M from $9,348M QoQ

Insights

Broadcom's Q1 FY2025 results showcase exceptional financial performance with $14.9 billion in revenue, marking a 25% year-over-year increase. What's particularly impressive is the company's profitability metrics - an adjusted EBITDA of $10.1 billion representing 68% of revenue, and free cash flow of $6.0 billion or 40% of revenue.

The growth drivers are clearly identified in two key segments: AI semiconductor solutions, which surged 77% year-over-year to $4.1 billion, and infrastructure software, which grew 47% to $6.7 billion. This diversified growth across both hardware and software demonstrates Broadcom's strategic positioning in high-demand markets.

Management's Q2 guidance indicates continued strong performance, projecting approximately $14.9 billion in revenue (19% YoY growth) and maintaining robust adjusted EBITDA margins around 66%. The company expects AI semiconductor revenue to reach $4.4 billion in Q2, suggesting sustained demand from hyperscalers investing in AI infrastructure.

The quarterly dividend of $0.59 per share reflects management's commitment to shareholder returns while balancing growth investments. With $9.3 billion in cash and cash equivalents, Broadcom maintains financial flexibility despite returning significant capital to shareholders through dividends and share repurchases via net settled equity awards.

Broadcom's Q1 results validate its strategic execution in capturing AI infrastructure demand, with AI-related revenue reaching $4.1 billion - a 77% year-over-year increase. This acceleration demonstrates how effectively the company has positioned its semiconductor products for AI workloads, particularly in data center environments.

The 47% growth in infrastructure software revenue to $6.7 billion highlights Broadcom's successful portfolio diversification beyond chips. This software growth provides higher-margin recurring revenue streams that complement the hardware business and reduce cyclicality exposure.

CEO Hock Tan's commentary about hyperscale partners continuing to invest in "AI XPUs and connectivity solutions for AI data centers" reveals Broadcom's strong position in the full AI computing stack - not just processors but also the critical networking components that enable massive AI clusters to function efficiently. The projected increase to $4.4 billion in Q2 AI semiconductor revenue indicates sustained demand rather than a temporary surge.

Broadcom's ability to maintain 66-68% adjusted EBITDA margins while growing at these rates is remarkable for a semiconductor company. This margin profile reflects both premium pricing power in high-performance components and the higher-margin contribution from the software business. The 28% increase in free cash flow further demonstrates that Broadcom can scale efficiently while investing in next-generation technologies.

  • Revenue of $14,916 million for the first quarter, up 25 percent from the prior year period
  • GAAP net income of $5,503 million for the first quarter; Non-GAAP net income of $7,823 million for the first quarter
  • Adjusted EBITDA of $10,083 million for the first quarter, or 68 percent of revenue
  • GAAP diluted EPS of $1.14 for the first quarter; Non-GAAP diluted EPS of $1.60 for the first quarter
  • Cash from operations of $6,113 million for the first quarter, less capital expenditures of $100 million, resulted in $6,013 million of free cash flow, or 40 percent of revenue
  • Quarterly common stock dividend of $0.59 per share
  • Second quarter fiscal year 2025 revenue guidance of approximately $14.9 billion, an increase of 19 percent from the prior year period
  • Second quarter fiscal year 2025 Adjusted EBITDA guidance of approximately 66 percent of projected revenue (1)

PALO ALTO, Calif., March 6, 2025 /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 2025, ended February 2, 2025, provided guidance for its second quarter of fiscal year 2025 and announced its quarterly dividend.

"Broadcom's record first quarter revenue and adjusted EBITDA were driven by both AI semiconductor solutions and infrastructure software. Q1 AI revenue grew 77% year-over-year to $4.1 billion and infrastructure software revenue grew 47% year-over-year to $6.7 billion," said Hock Tan, President and CEO of Broadcom Inc. "We expect continued strength in AI semiconductor revenue of $4.4 billion in Q2, as hyperscale partners continue to invest in AI XPUs and connectivity solutions for AI data centers."

"Consolidated revenue grew 25% year-over-year to a record $14.9 billion. Adjusted EBITDA increased 41% year-over-year to a record $10.1 billion," said Kirsten Spears, CFO of Broadcom Inc. "Free cash flow was $6.0 billion, up 28% year-over-year."

(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.

First Quarter Fiscal Year 2025 Financial Highlights



GAAP


Non-GAAP

(Dollars in millions, except per share data)


Q1 25


Q1 24


Change


Q1 25


Q1 24


Change

Net revenue


$

14,916


$

11,961



+25

%


$

14,916


$

11,961



+25

%

Net income


$

5,503


$

1,325


+$

4,178



$

7,823


$

5,254


+$

2,569


Earnings per common share - diluted


$

1.14


$

0.28


+$

0.86



$

1.60


$

1.10


+$

0.50



(Dollars in millions)
























































Q1 25


Q1 24


Change

Cash flow from operations























































$

6,113


$

4,815


+$

1,298

Adjusted EBITDA
























































$

10,083


$

7,156


+$

2,927

Free cash flow
























































$

6,013


$

4,693


+$

1,320































































Net revenue by segment






























































(Dollars in millions)
















































Q1 25


Q1 24


Change

Semiconductor solutions
















































$

8,212


55

%

$

7,390


62

%

+11

%

Infrastructure software

















































6,704


45




4,571


38



+47

%

Total net revenue
















































$

14,916


100

%


$

11,961


100

%




 

The Company's cash and cash equivalents at the end of the fiscal quarter were $9,307 million, compared to $9,348 million at the end of the prior fiscal quarter.

During the first fiscal quarter, the Company generated $6,113 million in cash from operations and spent $100 million on capital expenditures. The Company paid $2,036 million of withholding taxes related to net settled equity awards that vested in the quarter (resulting in the elimination of 8.7 million shares).

On December 31, 2024, the Company paid a cash dividend of $0.59 per share, totaling $2,774 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.

Second Quarter Fiscal Year 2025 Business Outlook

Based on current business trends and conditions, the outlook for the second quarter of fiscal year 2025, ending May 4, 2025, is expected to be as follows: 

  • Second quarter revenue guidance of approximately $14.9 billion; and
  • Second quarter Adjusted EBITDA guidance of approximately 66 percent of projected revenue.

The guidance provided above is only an estimate of what the Company believes is realizable as of the date of this release. The Company is not readily able to provide a reconciliation of projected Adjusted EBITDA to projected net income without unreasonable effort. Actual results will vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.

Quarterly Dividends

The Company's Board of Directors has approved a quarterly cash dividend of $0.59 per share. The dividend is payable on March 31, 2025, to stockholders of record at the close of business (5:00 p.m. Eastern Time) on March 20, 2025.

Financial Results Conference Call

Broadcom Inc. will host a conference call to review its financial results for the first quarter of fiscal year 2025 and to discuss the business outlook today at 2:00 p.m. Pacific Time.

To Listen via Internet: The conference call can be accessed live online in the Investors section of the Broadcom website at https://investors.broadcom.com/.

Replay: An audio replay of the conference call can be accessed for one year through the Investors section of Broadcom's website at https://investors.broadcom.com/.

Non-GAAP Financial Measures

The non-GAAP measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. Broadcom believes non-GAAP financial information provides additional insight into the Company's on-going performance. Therefore, Broadcom provides this information to investors for a more consistent basis of comparison and to help them evaluate the results of the Company's on-going operations and enable more meaningful period to period comparisons. 

In addition to GAAP reporting, Broadcom provides investors with net income, operating income, gross margin, operating expenses, cash flow and other data on a non-GAAP basis. This non-GAAP information excludes amortization of acquisition-related intangible assets, stock-based compensation expense, restructuring and other charges, acquisition-related costs, including integration costs, non-GAAP tax reconciling adjustments, and other adjustments. Management does not believe that these items are reflective of the Company's underlying performance. Internally, these non-GAAP measures are significant measures used by management for purposes of evaluating the core operating performance of the Company, establishing internal budgets, calculating return on investment for development programs and growth initiatives, comparing performance with internal forecasts and targeted business models, strategic planning, evaluating and valuing potential acquisition candidates and how their operations compare to the Company's operations, and benchmarking performance externally against the Company's competitors. The exclusion of these and other similar items from Broadcom's non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent or unusual.

Free cash flow measures have limitations as they omit certain components of the overall cash flow statement and do not represent the residual cash flow available for discretionary expenditures. Investors should not consider presentation of free cash flow measures as implying that stockholders have any right to such cash. Broadcom's free cash flow may not be calculated in a manner comparable to similarly named measures used by other companies.

About Broadcom

Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom's category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com

Cautionary Note Regarding Forward-Looking Statements 

This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, and other statements identified by words such as "will," "expect," "believe," "anticipate," "estimate," "should," "intend," "plan," "potential," "predict," "project," "aim," and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of Broadcom's management, current information available to Broadcom's management, and current market trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, undue reliance should not be placed on such statements.

Particular uncertainties that could materially affect future results include risks associated with: global economic conditions and uncertainty; government regulations, trade restrictions and trade tensions; global political and economic conditions relating to our international operations; our acquisition of VMware, Inc., including our ability to realize the expected benefits; any acquisitions or dispositions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; dependence on and risks associated with distributors and other channel partners of our products; dependence on senior management and our ability to attract and retain qualified personnel; our ability to protect against cyber security threats and a breach of security systems; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; cyclicality in the semiconductor industry or in our target markets; our ability to make successful investments in research and development; our ability to continue achieving design wins with our customers, as well as the timing of any design wins; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; prolonged disruptions of our or our contract manufacturers' manufacturing facilities, warehouses or other significant operations; our ability to accurately estimate customers' demand and adjust our manufacturing and supply chain accordingly; our ability to improve our manufacturing capacity and quality; involvement in legal proceedings; ability of our software products to manage and secure IT infrastructures and environments; demand for our data center virtualization products and customer acceptance of our products, services and business strategy; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; use of open source software in our products; sales to government customers; our ability to manage products and services lifecycles; quarterly and annual fluctuations in operating results; our competitive performance; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims, or other undetected defects or bugs; our compliance with privacy and data security laws; our provision for income taxes and overall cash tax costs; our ability to maintain tax concessions in certain jurisdictions; potential tax liabilities as a result of acquiring VMware; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; and other events and trends on a national, regional, industry-specific and global scale, including those of a political, economic, business, competitive and regulatory nature.

Our filings with the SEC, which are available without charge at the SEC's website at https://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.

Contact:
Ji Yoo
Broadcom Inc.
Investor Relations
650-427-6000
investor.relations@broadcom.com 

(AVGO-Q)

 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED

(IN MILLIONS, EXCEPT PER SHARE DATA)


























Fiscal Quarter Ended




February 2,


November 3,


February 4,




2025


2024


2024












Net revenue



$

14,916


$

14,054


$

11,961

Cost of revenue:











Cost of revenue




3,273



3,399



3,114

Amortization of acquisition-related intangible assets




1,484



1,602



1,380

Restructuring charges




14



51



92

Total cost of revenue




4,771



5,052



4,586

Gross margin




10,145



9,002



7,375

Research and development




2,253



2,234



2,308

Selling, general and administrative




949



1,010



1,572

Amortization of acquisition-related intangible assets




511



813



792

Restructuring and other charges




172



318



620

Total operating expenses




3,885



4,375



5,292

Operating income




6,260



4,627



2,083

Interest expense




(873)



(916)



(926)

Other income, net




103



52



185

Income from continuing operations before income taxes




5,490



3,763



1,342

Provision for (benefit from) income taxes




(13)



(442)



68

Income from continuing operations




5,503



4,205



1,274

Income from discontinued operations, net of income taxes




-



119



51

Net income



$

5,503


$

4,324


$

1,325












Basic income per share:











Income per share from continuing operations



$

1.17


$

0.89


$

0.28

Income per share from discontinued operations




-



0.03



0.01

Net income per share



$

1.17


$

0.92


$

0.29












Diluted income per share:











Income per share from continuing operations



$

1.14


$

0.87


$

0.27

Income per share from discontinued operations




-



0.03



0.01

Net income per share



$

1.14


$

0.90


$

0.28












Weighted-average shares used in per share calculations:











Basic




4,695



4,679



4,517

Diluted




4,836



4,828



4,666












Stock-based compensation expense included in continuing operations:











Cost of revenue



$

153


$

159


$

161

Research and development




822



839



863

Selling, general and administrative




305



316



548

Total stock-based compensation expense



$

1,280


$

1,314


$

1,572

 

BROADCOM INC.

FINANCIAL RECONCILIATION: GAAP TO NON-GAAP - UNAUDITED

(IN MILLIONS)























Fiscal Quarter Ended



February 2,


November 3,


February 4,



2025


2024


2024











Gross margin on GAAP basis


$

10,145


$

9,002


$

7,375

Amortization of acquisition-related intangible assets



1,484



1,602



1,380

Stock-based compensation expense



153



159



161

Restructuring charges



14



51



92

Acquisition-related costs



-



-



6

Gross margin on non-GAAP basis


$

11,796


$

10,814


$

9,014











Research and development on GAAP basis


$

2,253


$

2,234


$

2,308

Stock-based compensation expense



822



839



863

Acquisition-related costs



-



-



1

Research and development on non-GAAP basis


$

1,431


$

1,395


$

1,444











Selling, general and administrative expense on GAAP basis


$

949


$

1,010


$

1,572

Stock-based compensation expense



305



316



548

Acquisition-related costs



107



86



285

Selling, general and administrative expense on non-GAAP basis


$

537


$

608


$

739











Total operating expenses on GAAP basis


$

3,885


$

4,375


$

5,292

Amortization of acquisition-related intangible assets



511



813



792

Stock-based compensation expense



1,127



1,155



1,411

Restructuring and other charges



172



318



620

Acquisition-related costs



107



86



286

Total operating expenses on non-GAAP basis


$

1,968


$

2,003


$

2,183











Operating income on GAAP basis


$

6,260


$

4,627


$

2,083

Amortization of acquisition-related intangible assets



1,995



2,415



2,172

Stock-based compensation expense



1,280



1,314



1,572

Restructuring and other charges



186



369



712

Acquisition-related costs



107



86



292

Operating income on non-GAAP basis


$

9,828


$

8,811


$

6,831











Interest expense on GAAP basis


$

(873)


$

(916)


$

(926)

Loss on debt extinguishment



65



52



-

Interest expense on non-GAAP basis


$

(808)


$

(864)


$

(926)











Other income, net on GAAP basis


$

103


$

52


$

185

(Gains) losses on investments



4



30



(33)

Other



(31)



-



-

Other income, net on non-GAAP basis


$

76


$

82


$

152











Provision for (benefit from) income taxes on GAAP basis


$

(13)


$

(442)


$

68

Non-GAAP tax reconciling adjustments



1,286



1,506



735

Provision for income taxes on non-GAAP basis


$

1,273


$

1,064


$

803











Net income on GAAP basis


$

5,503


$

4,324


$

1,325

Amortization of acquisition-related intangible assets



1,995



2,415



2,172

Stock-based compensation expense



1,280



1,314



1,572

Restructuring and other charges



186



369



712

Acquisition-related costs



107



86



292

Loss on debt extinguishment



65



52



-

(Gains) losses on investments



4



30



(33)

Other



(31)



-



-

Non-GAAP tax reconciling adjustments



(1,286)



(1,506)



(735)

Income from discontinued operations, net of income taxes



-



(119)



(51)

Net income on non-GAAP basis


$

7,823


$

6,965


$

5,254











Net income on GAAP basis


$

5,503


$

4,324


$

1,325

Non-GAAP Adjustments:










Amortization of acquisition-related intangible assets



1,995



2,415



2,172

Stock-based compensation expense



1,280



1,314



1,572

Restructuring and other charges



186



369



712

Acquisition-related costs



107



86



292

Loss on debt extinguishment



65



52



-

(Gains) losses on investments



4



30



(33)

Other



(31)



-



-

Non-GAAP tax reconciling adjustments



(1,286)



(1,506)



(735)

Income from discontinued operations, net of income taxes



-



(119)



(51)

Other Adjustments:










Interest expense



808



864



926

Provision for income taxes on non-GAAP basis



1,273



1,064



803

Depreciation



142



156



139

Amortization of purchased intangibles and right-of-use assets



37



40



34

Adjusted EBITDA


$

10,083


$

9,089


$

7,156











Weighted-average shares used in per share calculations - diluted on GAAP basis



4,836



4,828



4,666

Non-GAAP adjustment (1)



59



77



113

Weighted-average shares used in per share calculations - diluted on non-GAAP basis



4,895



4,905



4,779











Net cash provided by operating activities


$

6,113


$

5,604


$

4,815

Purchases of property, plant and equipment



(100)



(122)



(122)

Free cash flow


$

6,013


$

5,482


$

4,693























 Fiscal
Quarter

Ending 









May 4,







Expected average diluted share count: 


2025

















Weighted-average shares used in per share calculation - diluted on GAAP basis


4,840







Non-GAAP adjustment (1)


107







Weighted-average shares used in per share calculation - diluted on non-GAAP basis


4,947


















(1) Non-GAAP adjustment for the number of shares used in the diluted per share calculations excludes the impact of stock-based compensation
expense expected to be incurred in future periods and not yet recognized in the financial statements, which would otherwise be assumed to be
used to repurchase shares under the GAAP treasury stock method.

 

BROADCOM INC.

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED

(IN MILLIONS)

























February 2,


November 3,






2025


2024












ASSETS




















Current assets:










Cash and cash equivalents




$

9,307


$

9,348


Trade accounts receivable, net





4,955



4,416


Inventory





1,908



1,760


Other current assets





4,820



4,071


Total current assets





20,990



19,595












Long-term assets:










Property, plant and equipment, net





2,465



2,521


Goodwill





97,871



97,873


Intangible assets, net





38,583



40,583


Other long-term assets





5,449



5,073


Total assets




$

165,358


$

165,645






















LIABILITIES AND EQUITY




















Current liabilities:










Accounts payable




$

1,905


$

1,662


Employee compensation and benefits





922



1,971


Short-term debt





5,653



1,271


Other current liabilities





12,430



11,793


Total current liabilities





20,910



16,697












Long-term liabilities:










Long-term debt





60,926



66,295


Other long-term liabilities





13,733



14,975


Total liabilities





95,569



97,967












Stockholders' equity:










Preferred stock





-



-


Common stock





5



5


Additional paid-in capital





66,848



67,466


Retained earnings





2,729



-


Accumulated other comprehensive income





207



207


Total stockholders' equity





69,789



67,678


  Total liabilities and equity




$

165,358


$

165,645


 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)















Fiscal Quarter Ended




February 2,


November 3,


February 4,




2025


2024


2024

Cash flows from operating activities:











Net income



$

5,503


$

4,324


$

1,325

Adjustments to reconcile net income to net cash provided by operating activities:











Amortization of intangible and right-of-use assets




2,032



2,455



2,206

Depreciation




142



156



139

Stock-based compensation




1,280



1,314



1,582

Deferred taxes and other non-cash taxes




(696)



(868)



(294)

Loss on debt extinguishment




65



52



-

Non-cash interest expense




97



91



102

Other




41



138



38

Changes in assets and liabilities, net of acquisitions and disposals:











  Trade accounts receivable, net




(539)



249



1,756

  Inventory




(148)



134



(14)

  Accounts payable




241



(85)



(74)

  Employee compensation and benefits




(908)



196



(660)

  Other current assets and current liabilities




26



(1,410)



(2,182)

  Other long-term assets and long-term liabilities




(1,023)



(1,142)



891

Net cash provided by operating activities




6,113



5,604



4,815












Cash flows from investing activities:











Acquisition of business, net of cash acquired




-



-



(25,416)

Purchases of property, plant and equipment




(100)



(122)



(122)

Purchases of investments




(105)



(30)



(13)

Sales of investments




18



20



89

Other




13



-



(15)

Net cash used in investing activities




(174)



(132)



(25,477)












Cash flows from financing activities:











Proceeds from long-term borrowings




2,986



4,969



30,010

Payments on debt obligations




(8,090)



(7,472)



(934)

Proceeds from commercial paper, net




3,980



-



-

Payments of dividends




(2,774)



(2,484)



(2,435)

Repurchases of common stock - repurchase program




-



-



(7,176)

Shares repurchased for tax withholdings on vesting of equity awards




(2,036)



(1,204)



(1,114)

Issuance of common stock




-



126



-

Other




(46)



(11)



(14)

Net cash provided by (used in) financing activities




(5,980)



(6,076)



18,337












Net change in cash and cash equivalents




(41)



(604)



(2,325)

Cash and cash equivalents at beginning of period




9,348



9,952



14,189

Cash and cash equivalents at end of period



$

9,307


$

9,348


$

11,864












Supplemental disclosure of cash flow information:











Cash paid for interest



$

671


$

738


$

750

Cash paid for income taxes



$

404


$

832


$

904

 

Cision View original content:https://www.prnewswire.com/news-releases/broadcom-inc-announces-first-quarter-fiscal-year-2025-financial-results-and-quarterly-dividend-302395106.html

SOURCE Broadcom Inc.

FAQ

What was Broadcom's (AVGO) AI revenue growth in Q1 2025?

Broadcom's AI revenue grew 77% year-over-year to $4.1 billion in Q1 2025.

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Broadcom generated $6.013 billion in free cash flow, representing 40% of revenue and a 28% year-over-year increase.

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Broadcom expects Q2 2025 revenue of approximately $14.9 billion, a 19% increase from the prior year.

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Broadcom declared a quarterly dividend of $0.59 per share, payable on March 31, 2025.

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Broadcom's infrastructure software revenue grew 47% year-over-year to $6.7 billion.

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