Broadcom announces 3Q financials and quarterly dividends

SAN JOSE, Calif. – Semiconductor supplier and infrastructure software solutions company Broadcom Inc. have announced the results of their quarter three fiscal year 2022 and their quarterly dividends.  

In a release from the company, Broadcom stated that cash from operations (less $116 million in capital expenditures) saw the company with $4,308 million in free cash flow (51% of revenue). Revenue for the quarter was up 25% from the prior year period at $8,464 million. As for the quarterly dividends Broadcom reported a quarterly common stock dividend of $4.10 per share, Fiscal Year 2022 annual common stock dividend of $16.40 per share.

"Broadcom's record third quarter results were driven by robust demand across cloud, service providers, and enterprise," President and CEO of Broadcom Inc. Hock Tan said.  "We expect solid demand across our end markets to continue in the fourth quarter, reflecting continued investment by our customers of next generation technologies in data centers, broadband, and wireless."

As a result of the strong showing Broadcom has revised its 4Q outlook for 2022 (ending October 30, 2022) as follows:

Fourth quarter revenue guidance of approximately $8.9 billion; and

Fourth quarter Adjusted EBITDA guidance of approximately 63 percent of projected revenue.

"Consolidated revenue grew 25% year-over-year to $8.5 billion and operating profit increased 32%," said CFO of Broadcom Inc. Kirsten Spears. "We generated $4.3 billion in free cash flow and are expecting free cash flow to be strong in the fourth quarter. We remain committed to return excess cash to shareholders and in the third quarter, we returned $3.2 billion to shareholders including $1.7 billion of cash dividends and $1.5 billion of share repurchases."

You can read the full release at www.prnewswire.com.