Welcome to our dedicated page for Broadcom news (Ticker: AVGO), a resource for investors and traders seeking the latest updates and insights on Broadcom stock.
Broadcom Inc. reports developments across semiconductor and infrastructure software businesses serving enterprise, cloud, broadband and AI infrastructure markets. Company news regularly covers custom silicon and networking technology for AI compute, Ethernet-based data-center connectivity, Wi-Fi and PON broadband chips, and infrastructure software products built around VMware Cloud Foundation, Tanzu, AppNeta and Arcot.
Recurring updates also include quarterly financial results and business outlooks, strategic customer and cloud collaborations, product releases for private cloud, observability and payment authentication, and governance changes within the Delaware corporation.
Broadcom Inc. (NASDAQ: AVGO) announced that its 8.00% Mandatory Convertible Preferred Stock, Series A, will automatically convert to shares of Common Stock on September 30, 2022. The adjusted Minimum Conversion Rate is 3.1149 shares per Preferred Stock, while the Maximum Conversion Rate is 3.6407 shares. Additionally, holders of record will receive a final quarterly cash dividend of $20.00 per share on the Preferred Stock on the same date. This conversion is in accordance with the Certificate of Designations dated September 30, 2019.
Broadcom Inc. (NASDAQ:AVGO) has announced the launch of its Trident 4C Ethernet switch ASIC, achieving 12.8 terabits per second with the capability of real-time flow anomaly detection. This innovative technology replaces traditional statistical sampling, ensuring 100% traffic inspection, which is critical for enhancing cybersecurity. The Trident 4C features an advanced analytics engine, capable of conducting 170 billion operations per second, without compromising switch performance. Broadcom is already shipping devices to qualified customers, marking a significant step in high-capacity network security solutions.
Broadcom reported a strong third quarter for FY22, with revenue of $8.464 billion, up 25% year-over-year, and GAAP net income of $3.074 billion, translating to a GAAP diluted EPS of $7.15. The company generated $4.424 billion in cash from operations, resulting in free cash flow of $4.308 billion, or 51% of revenue. Going forward, Broadcom expects fourth quarter revenue of approximately $8.9 billion, a 20% increase from last year. The Board declared a quarterly dividend of $4.10 per share.
Broadcom has announced a strategic partnership with Tencent to introduce the industry's first 25.6-Tbps CPO switch, enhancing high bandwidth solutions for cloud infrastructure. The switch integrates Broadcom's advanced Tomahawk 4 chip and four 3.2-Tbps optical engines, promising over 50% power savings compared to traditional options. The product will be showcased at the upcoming China International Optoelectronic Exposition from September 7-9. This collaboration aims to address increasing demands for bandwidth in AI, ML, and HPC applications while improving power efficiency.
Broadcom Inc. has launched the StrataXGS Tomahawk 5 switch series, achieving a historic milestone with a bandwidth of 51.2 Tbps, doubling the capacity of current market offerings. This cutting-edge technology is designed to meet the growing demands of data centers, especially for AI/ML workloads. Key features include advanced Cognitive Routing and dynamic load balancing, significantly enhancing network efficiency. The Tomahawk 5 supports 64 ports of 800GbE and utilizes a highly energy-efficient 5nm die, setting a new standard for high-performance data center networking.
Broadcom Inc. (NASDAQ: AVGO) will report its third quarter fiscal year 2022 financial results on September 1, 2022, after market close. A conference call to discuss these results will take place at 2:00 PM PT. Investors can preregister for telephone access or listen live via the Broadcom website. This call will provide insights into the company’s financial performance and future business outlook, offering shareholders a detailed perspective on the semiconductor and infrastructure software industry.
Broadcom Inc. (NASDAQ: AVGO) announced that its CEO, Hock Tan, will present at the BofA Securities 2022 Global Technology Conference on June 7, 2022, at 12:45 p.m. PT. The presentation will highlight Broadcom's semiconductor and infrastructure software solutions, which serve critical markets like data center and enterprise software. A live audio webcast will be available for 90 days for those interested in the insights shared during the conference.
Broadcom reported a 23% increase in revenue for Q2 2022, totaling $8.1 billion, with GAAP net income reaching $2.59 billion and adjusted EBITDA of $5.11 billion. The GAAP diluted EPS was $5.93, while non-GAAP diluted EPS was $9.07. Free cash flow stood at $4.16 billion. The company expects Q3 revenue of approximately $8.4 billion and announced a new $10 billion share repurchase program. Quarterly dividends remain at $4.10 per share.
Broadcom (AVGO) has announced its acquisition of VMware (VMW) for approximately $61 billion, comprising cash and stock, which marks a significant move to bolster its infrastructure technology portfolio. The deal, unanimously approved by both companies' boards, aims to create a combined entity with an expected pro forma revenue exceeding $40 billion, and software revenue accounting for around 49% of it. Broadcom anticipates adding roughly $8.5 billion of pro forma EBITDA within three years post-acquisition.
Broadcom Inc. (AVGO) has launched the BCM8958X, a high-bandwidth automotive Ethernet switch, addressing increased in-vehicle data demands and facilitating software-defined vehicles (SDV). This 16-port switch features six 10 Gbps capable ports, and integrated PHYs, supporting complex zonal and central compute ECU architectures. The device enables real-time data sharing across multiple connected devices, enhancing vehicle safety. Broadcom's comprehensive Ethernet solution positions it as a leader in automotive technology, paved for future SDV applications.