Broadcom Inc. Announces Second Quarter Fiscal Year 2021 Financial Results and Quarterly Dividends

Rhea-AI Summary

Broadcom Inc. reported strong Q2 2021 results with net revenue of $6.61 billion, a 15% year-over-year increase, and semiconductor revenue up 20%. Net income surged to $1.49 billion or $3.30 per share. The company generated $3.4 billion in free cash flow, representing 52% of revenue. Looking ahead, Broadcom guides for Q3 revenue of approximately $6.75 billion and maintains a quarterly dividend of $3.60 per share, payable June 30, 2021.

Positive

• 20% year-over-year growth in semiconductor revenue.
• $3.4 billion in free cash flow, 52% of revenue.
• Guidance for Q3 revenue at approximately $6.75 billion.

Negative

• None.

SAN JOSE, Calif., June 3, 2021 /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 second quarter of fiscal year 2021, ended May 2, 2021, provided guidance for the third quarter of its fiscal year 2021 and announced its quarterly dividends.

"Due to the strength in demand for semiconductors across our multiple end markets, we delivered 20% year-over-year increase in semiconductor revenue," said Hock Tan, President and CEO of Broadcom Inc. "Our third quarter outlook projects this year-over-year growth to sustain, as we continue to see strong demand from service providers and hypercloud."

"Consolidated revenue grew 15% year-over-year and operating profit increased 25%," said Kirsten Spears, CFO of Broadcom Inc. "We generated $3.4 billion in free cash flow or 52% of revenue in the quarter, and are expecting free cash flow to remain strong in the third quarter."

Second Quarter Fiscal Year 2021 Financial Highlights

		GAAP									Non-GAAP
(Dollars in millions, except per share data)		Q2 21			Q2 20			Change			Q2 21			Q2 20			Change
Net revenue		$	6,610		$	5,742		+15%			$	6,610		$	5,742		+15%
Net income		$	1,493		$	563		+$        930			$	2,980		$	2,323		+$       657
Earnings per common share - diluted		$	3.30		$	1.17		+$       2.13			$	6.62		$	5.14		+$      1.48

 

(Dollars in millions)												Q2 21			Q2 20			Change
Cash flow from operations												$	3,569		$	3,213		+$      356
Adjusted EBITDA												$	3,960		$	3,209		+$      751
Free cash flow												$	3,443		$	3,065		+$      378

 

Net revenue by segment
(Dollars in millions)													Q2 21						Q2 20						Change
Semiconductor solutions													$	4,820		73%			$	4,027		70%			+20%
Infrastructure software														1,790		27				1,715		30			+4%
Total net revenue													$	6,610		100%			$	5,742		100%

The Company's cash and cash equivalents at the end of the second fiscal quarter were $9,518 million, compared to $9,552 million at the end of the prior quarter.

During the second fiscal quarter, the Company generated $3,569 million in cash from operations and spent $126 million on capital expenditures.

On March 31, 2021, the Company paid a cash dividend of $3.60 per share of common stock, totaling $1,477 million and a cash dividend of $20.00 per share of mandatory convertible preferred stock, totaling $75 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.

Third Quarter Fiscal Year 2021 Business Outlook

Based on current business trends and conditions, the outlook for the third quarter of fiscal year 2021, ending August 1, 2021, is expected to be as follows: 

• Third quarter revenue guidance of approximately $6.75 billion; and
• Third quarter Adjusted EBITDA guidance of approximately 60 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 on its common stock of $3.60 per share. The common stock dividend is payable on June 30, 2021 to common stockholders of record at the close of business (5:00 p.m. Eastern Time) on June 22, 2021.

The Company's Board of Directors has also approved a quarterly cash dividend on its 8.00% Mandatory Convertible Preferred Stock, Series A, of $20.00 per share. This dividend is payable on June 30, 2021 to preferred stockholders of record at the close of business (5:00 p.m. Eastern Time) on June 15, 2021.

Financial Results Conference Call

Broadcom Inc. will host a conference call to review its financial results for the second quarter fiscal year 2021 and to discuss the business outlook, today at 2:00 p.m. Pacific Time. Those wishing to access the call should dial (866) 310-8712; International +1 (720) 634-2946. The passcode is 2374098. A replay of the call will be accessible for one week after the call. To access the replay dial (855) 859-2056; International +1 (404) 537-3406; and reference the passcode: 2374098. A webcast of the conference call will also be available in the "Investors" section of Broadcom's website at www.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 revenue, 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, impairment and disposal charges, acquisition-related costs, including integration costs, purchase accounting effect on inventory, litigation settlements, loss on debt extinguishment, gains (losses) on investments, income (loss) from discontinued operations, 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 Inc.

Broadcom Inc., (NASDAQ: AVGO), a Delaware corporation headquartered in San Jose, CA, is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation. 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 the management of Broadcom, as well as assumptions made by, and information currently available to, such management, current market trends and market conditions and involve risks and uncertainties, many of which are outside the Company's and management's control, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements.

Particular uncertainties that could materially affect future results include risks associated with: the COVID-19 pandemic, which has disrupted, and will likely continue to disrupt, normal business activity, and which may have an adverse effect on our results of operations; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; government regulations, trade restrictions and trade tensions; global economic conditions and concerns; global political and economic conditions; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; dependence on and risks associated with distributors and resellers of our products; dependence on senior management and our ability to attract and retain qualified personnel; any acquisitions 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; involvement in legal or administrative proceedings; quarterly and annual fluctuations in operating results; our ability to accurately estimate customers' demand and adjust our manufacturing and supply chain accordingly; cyclicality in the semiconductor industry or in our target markets; our competitive performance and ability to continue achieving design wins with our customers, as well as the timing of any design wins; prolonged disruptions of our or our contract manufacturers' manufacturing facilities, warehouses or other significant operations; our ability to improve our manufacturing efficiency and quality; our dependence on outsourced service providers for certain key business services and their ability to execute to our requirements; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; availability of third party software used in our products; use of open source code sources in our products; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims; market acceptance of the end products into which our products are designed; our ability to sell to new types of customers and to keep pace with technological advances; our compliance with privacy and data security laws; our ability to protect against a breach of security systems; fluctuations in foreign exchange rates; our provision for income taxes and overall cash tax costs, legislation that may impact our overall cash tax costs and our ability to maintain tax concessions in certain jurisdictions; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. Many of the foregoing risks and uncertainties are, and will be, exacerbated by the COVID-19 pandemic and any worsening of the global business and economic environment as a result. 

Our filings with the SEC, which you may obtain for free at the SEC's website at http://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
408-433-8000
investor.relations@broadcom.com

(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.

 

BROADCOM INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
(IN MILLIONS, EXCEPT PER SHARE DATA)
		Fiscal Quarter Ended									Two Fiscal Quarters Ended
		May 2,			January 31,			May 3,			May 2,			May 3,
		2021			2021			2020			2021			2020
Net revenue		$	6,610		$	6,655		$	5,742		$	13,265		$	11,600
Cost of revenue:
Cost of revenue			1,699			1,814			1,592			3,513			3,228
Amortization of acquisition-related intangible assets			853			874			954			1,727			1,904
Restructuring charges			1			15			7			16			15
Total cost of revenue			2,553			2,703			2,553			5,256			5,147
Gross margin			4,057			3,952			3,189			8,009			6,453
Research and development			1,238			1,211			1,269			2,449			2,558
Selling, general and administrative			325			339			501			664			1,102
Amortization of acquisition-related intangible assets			494			494			599			988			1,202
Restructuring, impairment and disposal charges			25			71			54			96			111
Total operating expenses			2,082			2,115			2,423			4,197			4,973
Operating income			1,975			1,837			766			3,812			1,480
Interest expense			(466)			(570)			(487)			(1,036)			(893)
Other income (expense), net			(23)			117			130			94			126
Income from continuing operations before income taxes			1,486			1,384			409			2,870			713
Provision for (benefit from) income taxes			(7)			6			(159)			(1)			(235)
Income from continuing operations			1,493			1,378			568			2,871			948
Loss from discontinued operations, net of income taxes			-			-			(5)			-			-
Net income			1,493			1,378			563			2,871			948
Dividends on preferred stock			(76)			(74)			(75)			(150)			(149)
Net income attributable to common stock		$	1,417		$	1,304		$	488		$	2,721		$	799
Basic income per share attributable to common stock:
Income per share from continuing operations		$	3.46		$	3.20		$	1.23		$	6.67		$	2.00
Loss per share from discontinued operations			-			-			(0.01)			-			-
Net income per share		$	3.46		$	3.20		$	1.22		$	6.67		$	2.00
Diluted income per share attributable to common stock (1):
Income per share from continuing operations		$	3.30		$	3.05		$	1.18		$	6.34		$	1.91
Loss per share from discontinued operations			-			-			(0.01)			-			-
Net income per share		$	3.30		$	3.05		$	1.17		$	6.34		$	1.91
Weighted-average shares used in per share calculations:
Basic			409			407			401			408			400
Diluted			429			428			417			429			419
Stock-based compensation expense included in continuing operations:
Cost of revenue		$	38		$	32		$	41		$	70		$	84
Research and development			307			328			373			635			764
Selling, general and administrative			80			84			103			164			214
Total stock-based compensation expense		$	425		$	444		$	517		$	869		$	1,062
(1) Excludes the potentially dilutive effect of Mandatory Convertible Preferred Stock as the impact was antidilutive.

 

BROADCOM INC.
FINANCIAL RECONCILIATION: GAAP TO NON-GAAP - UNAUDITED
(IN MILLIONS)
		Fiscal Quarter Ended									Two Fiscal Quarters Ended
		May 2,			January 31,			May 3,			May 2,			May 3,
		2021			2021			2020			2021			2020
Gross margin on GAAP basis		$	4,057		$            3,952			$              3,189			$               8,009			$             6,453
Purchase accounting effect on inventory			-			-			-			-			11
Amortization of acquisition-related intangible assets			853			874			954			1,727			1,904
Stock-based compensation expense			38			32			41			70			84
Restructuring charges			1			15			7			16			15
Acquisition-related costs			3			3			5			6			6
Gross margin on non-GAAP basis		$	4,952		$	4,876		$	4,196		$	9,828		$	8,473
Research and development on GAAP basis		$	1,238		$	1,211		$	1,269		$	2,449		$	2,558
Stock-based compensation expense			307			328			373			635			764
Acquisition-related costs			1			1			5			2			12
Research and development on non-GAAP basis		$	930		$	882		$	891		$	1,812		$	1,782
Selling, general and administrative expense on GAAP basis		$	325		$	339		$	501		$	664		$	1,102
Stock-based compensation expense			80			84			103			164			214
Acquisition-related costs			25			41			95			66			270
Litigation settlements			-			-			29			-			42
Selling, general and administrative expense on non-GAAP basis		$	220		$	214		$	274		$	434		$	576
Total operating expenses on GAAP basis		$	2,082		$	2,115		$	2,423		$	4,197		$	4,973
Amortization of acquisition-related intangible assets			494			494			599			988			1,202
Stock-based compensation expense			387			412			476			799			978
Restructuring, impairment and disposal charges			25			71			54			96			111
Litigation settlements			-			-			29			-			42
Acquisition-related costs			26			42			100			68			282
Total operating expenses on non-GAAP basis		$	1,150		$	1,096		$	1,165		$	2,246		$	2,358
Operating income on GAAP basis		$	1,975		$	1,837		$	766		$	3,812		$	1,480
Purchase accounting effect on inventory			-			-			-			-			11
Amortization of acquisition-related intangible assets			1,347			1,368			1,553			2,715			3,106
Stock-based compensation expense			425			444			517			869			1,062
Restructuring, impairment and disposal charges			26			86			61			112			126
Litigation settlements			-			-			29			-			42
Acquisition-related costs			29			45			105			74			288
Operating income on non-GAAP basis		$	3,802		$	3,780		$	3,031		$	7,582		$	6,115
Interest expense on GAAP basis		$	(466)		$	(570)		$	(487)		$	(1,036)		$	(893)
Loss on debt extinguishment			50			172			93			222			98
Interest expense on non-GAAP basis		$	(416)		$	(398)		$	(394)		$	(814)		$	(795)
Other income (expense), net on GAAP basis		$	(23)		$	117		$	130		$	94		$	126
Gain from lapse of indemnification			-			-			(116)			-			(116)
(Gains) losses on investments			25			(119)			(8)			(94)			10
Acquisition-related gain			(1)			(2)			(3)			(3)			(7)
Other income (expense), net on non-GAAP basis		$	1		$	(4)		$	3		$	(3)		$	13
Provision for (benefit from) income taxes on GAAP basis		$	(7)		$	6		$	(159)		$	(1)		$	(235)
Non-GAAP tax reconciling adjustments			414			399			476			813			875
Provision for income taxes on non-GAAP basis		$	407		$	405		$	317		$	812		$	640
Net income on GAAP basis		$	1,493		$	1,378		$	563		$	2,871		$	948
Purchase accounting effect on inventory			-			-			-			-			11
Amortization of acquisition-related intangible assets			1,347			1,368			1,553			2,715			3,106
Stock-based compensation expense			425			444			517			869			1,062
Restructuring, impairment and disposal charges			26			86			61			112			126
Litigation settlements			-			-			29			-			42
Acquisition-related costs			28			43			102			71			281
Loss on debt extinguishment			50			172			93			222			98
Gain from lapse of indemnification			-			-			(116)			-			(116)
(Gains) losses on investments			25			(119)			(8)			(94)			10
Non-GAAP tax reconciling adjustments			(414)			(399)			(476)			(813)			(875)
Loss from discontinued operations, net of income taxes			-			-			5			-			-
Net income on non-GAAP basis		$	2,980		$	2,973		$	2,323		$	5,953		$	4,693
Weighted-average shares used in per share calculations - diluted on GAAP basis			429			428			417			429			419
Non-GAAP adjustment (1)			21			22			35			21			33
Weighted-average shares used in per share calculations - diluted on non-GAAP basis			450			450			452			450			452
Net income on non-GAAP basis		$	2,980		$	2,973		$	2,323		$	5,953		$	4,693
Interest expense on non-GAAP basis			416			398			394			814			795
Provision for income taxes on non-GAAP basis			407			405			317			812			640
Depreciation			133			138			147			271			293
Amortization of purchased intangibles and right-of-use assets			24			27			28			51			53
Adjusted EBITDA		$	3,960		$	3,941		$	3,209		$	7,901		$	6,474
Net cash provided by operating activities		$	3,569		$	3,113		$	3,213		$	6,682		$	5,535
Purchases of property, plant and equipment			(126)			(114)			(148)			(240)			(256)
Free cash flow		$	3,443		$	2,999		$	3,065		$	6,442		$	5,279
		Fiscal Quarter Ending
		August 1,
Expected average diluted share count:		2021
Weighted-average shares used in per share calculation - diluted on GAAP basis		429
Non-GAAP adjustment (1)		20
Weighted-average shares used in per share calculation - diluted on non-GAAP basis		449
(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. The non-GAAP adjustment also includes the impact of Mandatory Convertible Preferred Stock that is antidilutive on a GAAP basis. For the fiscal quarter ending August 1, 2021, the non-GAAP adjustment includes the impact of Mandatory Convertible Preferred Stock that is expected to be antidilutive on a GAAP basis.

 

BROADCOM INC.
CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED
(IN MILLIONS)
		May 2,			November 1,
		2021			2020
ASSETS
Current assets:
Cash and cash equivalents		$	9,518		$	7,618
Trade accounts receivable, net			2,425			2,297
Inventory			1,004			1,003
Other current assets			1,298			977
Total current assets			14,245			11,895
Long-term assets:
Property, plant and equipment, net			2,416			2,509
Goodwill			43,457			43,447
Intangible assets, net			14,068			16,782
Other long-term assets			1,338			1,300
Total assets		$	75,524		$	75,933
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable		$	830		$	836
Employee compensation and benefits			639			877
Current portion of long-term debt			278			827
Other current liabilities			4,689			3,831
Total current liabilities			6,436			6,371
Long-term liabilities:
Long-term debt			40,160			40,235
Other long-term liabilities			4,962			5,426
Total liabilities			51,558			52,032
Preferred stock dividend obligation			27			27
Stockholders' equity:
Preferred stock			-			-
Common stock			-			-
Additional paid-in capital			24,045			23,982
Retained earnings			-			-
Accumulated other comprehensive loss			(106)			(108)
Total stockholders' equity			23,939			23,874
Total liabilities and equity		$	75,524		$	75,933

 

BROADCOM INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED
(IN MILLIONS)
		Fiscal Quarter Ended									Two Fiscal Quarters Ended
		May 2,			January 31,			May 3,			May 2,			May 3,
		2021			2021			2020			2021			2020
Cash flows from operating activities:
Net income		$	1,493		$	1,378		$	563		$	2,871		$	948
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible and right-of-use assets			1,371			1,395			1,583			2,766			3,165
Depreciation			133			138			147			271			293
Stock-based compensation			425			444			517			869			1,062
Deferred taxes and other non-cash taxes			(177)			(149)			(175)			(326)			(247)
Loss on debt extinguishment			26			172			93			198			98
Unrealized (gain) loss on investments			25			(119)			-			(94)			-
Non-cash restructuring, impairment and disposal charges			12			15			6			27			17
Non-cash interest expense			21			22			31			43			61
Other			(3)			(5)			(8)			(8)			11
Changes in assets and liabilities, net of acquisitions and disposals:
Trade accounts receivable, net			106			(247)			440			(141)			48
Inventory			(52)			51			(10)			(1)			30
Accounts payable			(58)			44			233			(14)			350
Employee compensation and benefits			135			(375)			61			(240)			(156)
Other current assets and current liabilities			182			408			118			590			464
Other long-term assets and long-term liabilities			(70)			(59)			(386)			(129)			(609)
Net cash provided by operating activities			3,569			3,113			3,213			6,682			5,535
Cash flows from investing activities:
Acquisitions of businesses, net of cash acquired			-			(8)			-			(8)			(10,870)
Proceeds from sale of business			-			-			168			-			168
Purchases of property, plant and equipment			(126)			(114)			(148)			(240)			(256)
Proceeds from disposals of property, plant and equipment			3			-			-			3			-
Other			(3)			-			4			(3)			(5)
Net cash provided by (used in) investing activities			(126)			(122)			24			(248)			(10,963)
Cash flows from financing activities:
Proceeds from long-term borrowings			-			9,904			4,468			9,904			19,849
Payments on debt obligations			(1,533)			(9,200)			(4,452)			(10,733)			(8,989)
Other borrowings, net			-			-			1,025			-			1,743
Payments of dividends			(1,552)			(1,543)			(1,381)			(3,095)			(2,753)
Shares repurchased for tax withholdings on vesting of equity awards			(461)			(225)			(219)			(686)			(388)
Issuance of common stock			71			35			91			106			128
Other			(2)			(28)			(6)			(30)			(10)
Net cash provided by (used in) financing activities			(3,477)			(1,057)			(474)			(4,534)			9,580
Net change in cash and cash equivalents			(34)			1,934			2,763			1,900			4,152
Cash and cash equivalents at beginning of period			9,552			7,618			6,444			7,618			5,055
Cash and cash equivalents at end of period		$	9,518		$	9,552		$	9,207		$	9,518		$	9,207
Supplemental disclosure of cash flow information:
Cash paid for interest		$	369		$	372		$	375		$	741		$	756
Cash paid for income taxes		$	293		$	147		$	124		$	440		$	255

 

View original content:http://www.prnewswire.com/news-releases/broadcom-inc-announces-second-quarter-fiscal-year-2021-financial-results-and-quarterly-dividends-301305589.html

SOURCE Broadcom Inc.

FAQ

What were Broadcom's Q2 2021 earnings results?

Broadcom reported Q2 2021 net revenue of $6.61 billion and net income of $1.49 billion.

What is Broadcom's guidance for Q3 2021?

Broadcom expects Q3 2021 revenue of approximately $6.75 billion.

What is the dividend payout for Broadcom in Q2 2021?

Broadcom announced a quarterly dividend of $3.60 per share, payable on June 30, 2021.

How much free cash flow did Broadcom generate in Q2 2021?

Broadcom generated $3.4 billion in free cash flow in Q2 2021.