• Thu, December 12, 2024
  • Fri, December 13, 2024

Broadcom (AVGO) Q4 2024 Earnings Call Transcript

Broadcom (NASDAQ: AVGO) Q4 2024 Earnings Call Dec 12, 2024, 5:00 p.m. ET Welcome to the Broadcom Inc. fourth quarter and fiscal year 2024 financial results conference call. At this time, for opening remarks and introductions, I would like to turn the call over to Ji Yoo, head of investor relations of Broadcom, Inc.
Broadcom Inc. (AVGO) reported its Q4 2024 earnings, showcasing a robust performance with revenue reaching $11.96 billion, surpassing the consensus estimate of $11.72 billion. The company's adjusted EPS was $10.99, beating expectations of $10.28. This growth was primarily driven by strong demand in AI and networking sectors, with AI revenue doubling year-over-year to $2.3 billion. However, the company faced challenges in other areas, including a slight decline in wireless revenue due to inventory adjustments by customers. Broadcom also provided forward-looking guidance, expecting revenue for the first quarter of fiscal 2025 to be approximately $11.7 billion, with an adjusted EPS of around $10.70. The company's CEO, Hock Tan, highlighted the strategic focus on AI and the integration of VMware, which was acquired to bolster its software capabilities.

Read the Full YAHOO!Finance Article at:
https://finance.yahoo.com/news/broadcom-avgo-q4-2024-earnings-031513254.html


Similar Stocks and Investing Publications