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Reported Q: Q3 2024 Rev YoY: +40.6% EPS YoY: -104.7% Move: +1.29%

Broadcom Inc

AVGO

$313.49 1.29%

Exchange NASDAQ Sector Technology Industry Semiconductors

Q3 2024

Published: Sep 11, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for AVGO

Reported

Report Date

Sep 11, 2024

Quarter Q3 2024

Revenue

13.07B

YoY: +40.6%

EPS

-0.40

YoY: -104.7%

Market Move

+1.29%

Previous quarter: Q2 2024

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Earnings Highlights

Revenue of $13.07B up 40.6% year-over-year
EPS of $-0.40 decreased by 104.7% from previous year
Gross margin of 63.9%
Net income of -1.88B
"In our fiscal Q3 2024, consolidated net revenue of $13.1 billion was up 47% year-on-year, and operating profit was up 44% year-on-year. - Hock Tan" - Hock Tan

AVGO

Broadcom Inc

Period Q3 2024

Currency USD

Report Type Quarterly Earnings

Generated Apr 1, 2026

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Executive Summary

In the third quarter of fiscal year 2024, Broadcom Inc reported robust results, achieving consolidated net revenue of $13.1 billion, which represents a remarkable 47% increase compared to the same period last year. This growth was primarily propelled by a significant surge in AI revenue and the successful integration of VMware, contributing $3.8 billion in revenue in the software segment. CEO Hock Tan attributed the company’s success to the expanding demand in AI technologies and strong performance from semiconductor solutions. Despite a reported net loss of $1.875 billion, Broadcom's internal metrics signal a recovery trend in their non-AI semiconductor markets, positioning the company favorably for future quarters.

Key Performance Indicators

Revenue

Increasing

13.07B

QoQ: 4.68% | YoY: 40.63%

Gross Profit

Increasing

8.36B

63.92% margin

QoQ: 19.34% | YoY: 30.42%

Operating Income

Decreasing

3.79B

QoQ: 14.44% | YoY: -10.66%

Net Income

Decreasing

-1.88B

QoQ: -188.40% | YoY: -153.21%

EPS

Decreasing

-0.40

QoQ: -186.96% | YoY: -104.69%

Revenue Trend

Margin Analysis

Financial Highlights

### Financial Highlights:
- Revenue: $13.1 billion (YoY: +47%, QoQ: +4.7%)
- Gross Profit: $8.356 billion, with a gross profit margin of 63.9%.
- Operating Income: $3.788 billion, with an operating income margin of 28.9%.
- Net Income: -$1.875 billion (notably affected by one-time charges related to VMware integration)
- EPS: -$0.40

### YoY and QoQ Growth Analysis:
- Semiconductor Revenue: $7.3 billion (Up 5% YoY)
- Infrastructure Software Revenue: $5.8 billion (Up 200% YoY)

The operating income with adjustments reflects operational efficiency despite integration costs, indicating strong underlying business fundamentals. Management noted that AI revenue itself grew substantially with expectations of it hitting over $12 billion for fiscal year 2024, showing a significant upward trajectory.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	13.07B	40.63%	4.68%
Gross Profit	8.36B	30.42%	19.34%
Operating Income	3.79B	-10.66%	14.44%
Net Income	-1.88B	-153.21%	-188.40%
EPS	-0.40	-104.69%	-186.96%

Key Financial Ratios

Gross Profit Margin

Excellent

63.90%

Gross profit margin is exceptional, indicating strong pricing power and operational efficiency

Operating Profit Margin

Excellent

29.00%

Operating margin is exceptional, indicating strong pricing power and operational efficiency

Net Profit Margin

Weak

-0.14%

Net profit margin is below industry norms, profitability concerns

Return on Assets

Weak

-0.01%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

-0.03%

Return on equity suggests inefficient capital allocation

Current Ratio

Adequate

1.04

Current ratio meets minimum requirements but limited cushion

Debt to Equity

High Risk

1.07

Debt-to-equity indicates high leverage and elevated financial risk

P/E Ratio

Negative

-88.34x

Negative earnings make P/E ratio not meaningful

Price to Book

High Premium

10.09x

Very high premium suggests asset-light business model or lofty expectations

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q1 2025	14,916.00	1.14	+24.7%	View
Q4 2024	14,054.00	-0.33	+51.2%	View
Q3 2024	13,072.00	-0.40	+40.6%	View
Q2 2024	12,487.00	0.44	+40.7%	View
Q1 2024	11,961.00	0.28	+34.8%	View

Broadcom Inc (AVGO) Q3 2024 Earnings Report

Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Historical Earnings Comparison

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