Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (91260)	12/7/2023 5:11:58 PM
From: Return to Sender	Respond to of 95657

Broadcom Exceeds Fiscal Fourth-Quarter Views, 2024 Revenue Outlook Falls Short of Consensus 5:08 PM ET 12/7/23 \| MT Newswires 05:08 PM EST, 12/07/2023 (MT Newswires) -- Broadcom (AVGO) late Thursday reported stronger-than-expected fiscal fourth-quarter results, while the chipmaker's revenue outlook for 2024 missed Wall Street's estimates. Adjusted earnings came in at $11.06 a share for the quarter through Oct. 29, up from $10.45 a year earlier and ahead of the Capital IQ-polled consensus of $10.96. Revenue gained 4% to $9.3 billion, just above the Street's view of $9.28 billion. Revenue in the semiconductor solutions segment increased 3% year-over-year to $7.33 billion while revenue in the infrastructure software division rose 7% to $1.97 billion. For fiscal 2024, Broadcom anticipates revenue to advance 40% year on year to $50 billion, including VMware's contribution. The Street is looking for $51.07 billion. Broadcom completed its acquisition of VMware in November. "In fiscal year 2024, we expect semiconductor to sustain its mid- to high-single digit revenue growth rate," Chief Executive Hock Tan said in a statement. The company forecasts fiscal 2024 adjusted earnings before interest, taxes, depreciation and amortization of about 60% of projected revenue, compared with a record 65% adjusted EBITDA margin reported for 2023. With the VMware acquisition "and expected increase in cash flows, we are increasing our quarterly common stock dividend by 14% to $5.25 per share for fiscal year 2024," Tan said. The dividend is payable Dec. 29 to stockholders of record as of Dec. 20. The fiscal 2024 common stock dividend target of $21 per share is a record, Tan said. Broadcom shares were off fractionally in after-hours trading. Price: 912, Change: -10.26, Percent Change: -1.11