Thursday, March 4, 2021

Broadcom posts revenue of $6.6 billion, up 14% yoy

Broadcom posted revenue of $6,655 million for its first quarter of fiscal year 2021, up 14 percent from the prior year period. GAAP diluted EPS was $3.05 for the first quarter.

"We executed well during our first fiscal quarter driving 14% organic growth year on year," said Hock Tan, President and CEO of Broadcom Inc. "This growth reflects the critical role our technology franchises play in this environment of accelerated digital transformation."

"This quarter highlights the strength of our financial model with 14% year over year revenue growth translating to an increase in operating profit of 23%," said Kirsten Spears, CFO of Broadcom Inc. "We continue to deliver strong free cash flow, approximately $3 billion in the quarter, representing 35% growth on a year on year basis."