Broadcom Inc.
Broadcom Inc. Reports Q2 FY2024 Financial Results and Announces Dividend and Stock Split
Summary
On June 12, 2024, Broadcom Inc. announced its unaudited financial results for the second quarter of fiscal year 2024, revealing a revenue of $12.487 billion, a 43% increase year-over-year. The company reported GAAP net income of $2.121 billion and non-GAAP net income of $5.394 billion. Adjusted EBITDA was $7.429 billion, representing 59% of revenue. Broadcom also declared a quarterly cash dividend of $5.25 per share and announced a ten-for-one forward stock split effective July 15, 2024.
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About Broadcom Inc.
Broadcom Inc. is a diversified global technology company that designs, develops, and supplies a broad range of semiconductor and infrastructure software solutions. Its primary function is to serve high-growth industries by providing technology that supports complex digital environments. Key sectors impacted by Broadcom’s products include data center, networking, broadband, wireless, and industrial markets. The company's semiconductor solutions are integral to networking systems, represented by products like ASICs and Bluetooth solutions, while its software solutions enhance critical infrastructure for businesses. Headquartered in San Jose, California, Broadcom maintains a significant presence in the tech industry due to its commitment to innovation and acquisition strategy, which has expanded its impact across a variety of computing and connectivity applications. By leveraging its expansive portfolio, Broadcom continues to enhance the capabilities of new technologies and supports advancements in digital communication and data management.
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