Broadcom (NASDAQ:AVGO) Full Year 2023 Results

Key Financial Results

• Revenue: US$35.8b (up 7.9% from FY 2022).
• Net income: US$14.1b (up 26% from FY 2022).
• Profit margin: 39% (up from 34% in FY 2022). The increase in margin was primarily driven by higher revenue.
• EPS: US$33.93 (up from US$27.44 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Broadcom EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.3%.

The primary driver behind last 12 months revenue was the Semiconductor Solutions (Including Intellectual Property Licensing) segment contributing a total revenue of US$28.2b (79% of total revenue). The largest operating expense was Research & Development (R&D) costs, amounting to US$5.25b (42% of total expenses). Explore how AVGO's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Semiconductor industry in the US.

Performance of the American Semiconductor industry.

The company's shares are up 1.5% from a week ago.

Risk Analysis

You should learn about the 3 warning signs we've spotted with Broadcom.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.