Broadcom's Revenue Surges by 47% in Q3 FY2024, Reaching $13.07 Billion
Broadcom Inc. [AVGO] reported a net loss of $1.88 billion for the third quarter of fiscal year 2024, which ended on August 4, 2024. This figure represents a change from the net income of $3.30 billion recorded in the previous quarter.
The company, headquartered in Palo Alto, California, reported to SEC in an 8-K filing $-0.40 earnings per share in the quarter, compared to $0.77 in the previous quarter.
Broadcom Inc., a key player in the technology sector, reported a robust revenue of $13.07 billion. This marked a significant increase from the previous quarter's revenue of $8.88 billion, showcasing substantial growth in the company's financial performance.
In comparison to the same quarter in the previous year, Broadcom Inc. experienced a notable growth in revenue, with an increase from $8.88 billion to $13.07 billion. This demonstrates a positive trend in the company's revenue performance over the year.
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Furthermore, when looking at the net income or loss comparison for the current quarter against the same quarter of the previous year, Broadcom Inc. witnessed a significant shift in financial outcome, showcasing a strong percentage change.
As of September 4, 2024 end of day trading.
Dollars in millions | May 05, 2024 | Feb 04, 2024 | Oct 29, 2023 | Jul 30, 2023 |
|---|
Income Statement |
| Revenue | $12,487.0 | $11,961.0 | $35,819.0 | $8,876.0 |
| Operating Profit | $2,965.0 | $2,083.0 | $16,207.0 | $3,856.0 |
| Net Income | $2,121.0 | $1,325.0 | $14,082.0 | $3,303.0 |
| Net Cash | -$4,380.0 | -$2,325.0 | $1,773.0 | -$361.0 |
| Gross Margin | $7,776.0 | $7,375.0 | $24,690.0 | $6,164.0 |
| Operating Margin | $0.0 | $0.0 | $0.0 | $0.0 |
| Profit as % of Revenues | 366.62 | 61.66 | 68.93 | 69.45 |
| Profit as % of Assets | 2.26 | 1.06 | 19.28 | 4.56 |
| Profit as % of Stockholder Equity | 3.03 | 1.89 | 58.70 | 14.96 |
| Return on Equity | 3.03 | 1.89 | 58.70 | 14.96 |
| Return on Assets | 1.21 | 0.74 | 19.33 | 4.61 |
| Turnover Ratio | 13.31 | 0.10 | 0.49 | 0.12 |
| EBITA | $3,792.0 | | $0.0 | $0.0 |
Balance Sheet |
| Total Assets | $175,211.0 | $177,870.0 | $72,861.0 | $71,595.0 |
| Total Liabilities | $105,250.0 | $107,586.0 | $48,873.0 | $49,516.0 |
Cash Flow Statement |
| Operating Cash Flow | $9,395.0 | $4,815.0 | $18,085.0 | $13,257.0 |
| Investing Cash Flow | -$26,183.0 | -$25,477.0 | -$689.0 | -$565.0 |
| Financing Cash Flow | $12,408.0 | $18,337.0 | -$15,623.0 | -$13,053.0 |
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