AVGO FY 2023 Earnings Report — Broadcom Inc. Revenue & Financial Results | Market Cap Arena

Broadcom Inc.AVGO

FY 2023 Earnings

Reported December 14, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$35.8B	—	$33.2B	—	7.9%
Op. Income	$16.2B	—	$14.2B	—	13.9%
Gross Margin	68.9%	—	66.5%	—	2.4pp
Net Margin	39.3%	—	34.6%	—	4.7pp
EPS (Diluted)	$3.30	—	$2.65	—	24.5%
Free Cash Flow	$17.6B	—	$16.3B	—	8.1%

Revenue Flow

Item	Amount
REVENUE	$35.8B
Cost of Revenue	$11.1B
GROSS PROFIT	$24.7B
R&D Expenses	$5.3B
Selling & Marketing	$0
General & Administrative	$1.6B
SG&A Expenses	$1.6B
Other Expenses	$1.6B
Operating Expenses	$8.5B
Cost & Expenses	$19.6B
OPERATING INCOME	$16.2B
Interest Income	$535M
Interest Expense	$1.6B
Other Income/Expenses	-$1.1B
INCOME BEFORE TAX	$15.1B
Income Tax Expense	$1.0B
Net Income from Continuing Ops	$14.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$14.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$14.1B
D&A	$3.8B
EBIT	$16.7B
EBITDA	$20.6B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$35.8B
Cost of Revenue	$11.1B
GROSS PROFIT	$24.7B
R&D Expenses	$5.3B
Selling & Marketing	$0
General & Administrative	$1.6B
SG&A Expenses	$1.6B
Other Expenses	$1.6B
Operating Expenses	$8.5B
Cost & Expenses	$19.6B
OPERATING INCOME	$16.2B
Interest Income	$535M
Interest Expense	$1.6B
Other Income/Expenses	-$1.1B
INCOME BEFORE TAX	$15.1B
Income Tax Expense	$1.0B
Net Income from Continuing Ops	$14.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$14.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$14.1B
D&A	$3.8B
EBIT	$16.7B
EBITDA	$20.6B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$14.1B
Depreciation & Amortization	$3.8B
Stock-Based Compensation	$2.2B
Deferred Income Tax	-$501M
Other Non-Cash Items	$141M
Change in Working Capital	-$1.6B
OPERATING CASH FLOW	$18.1B
Capital Expenditure	-$452M
Acquisitions (Net)	-$53M
Purchases of Investments	-$346M
Sales/Maturities of Investments	$228M
Other Investing Activities	-$66M
NET CASH FROM INVESTING	-$689M
Net Debt Issuance	-$403M
Common Stock Repurchased	-$7.7B
Common Dividends Paid	-$7.6B
Other Financing Activities	-$12M
NET CASH FROM FINANCING	-$15.6B
FREE CASH FLOW	$17.6B
Net Change in Cash	$1.8B

Balance Sheet

Item	Amount
Cash & Equivalents	$14.2B
Short-Term Investments	$0
Net Receivables	$3.2B
Inventory	$1.9B
Other Current Assets	$863M
TOTAL CURRENT ASSETS	$20.8B
PP&E (Net)	$2.6B
Goodwill	$43.7B
Intangible Assets	$3.9B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$1.9B
TOTAL NON-CURRENT ASSETS	$52.0B
TOTAL ASSETS	$72.9B
Account Payables	$1.2B
Short-Term Debt	$1.6B
Deferred Revenue	$2.5B
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$7.4B
Long-Term Debt	$37.6B
Deferred Revenue NC	$299M
Deferred Tax Liabilities	-$299M
Other Non-Current Liabilities	$3.5B
TOTAL NON-CURRENT LIABILITIES	$41.5B
TOTAL LIABILITIES	$48.9B
Common Stock	$4M
Additional Paid-In Capital	$21.1B
Retained Earnings	$2.7B
Treasury Stock	$0
Accum. Other Comp. Income	$207M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$24.0B
Minority Interest	$0
TOTAL EQUITY	$24.0B
TOTAL LIABILITIES & EQUITY	$72.9B
Total Debt	$39.6B
Net Debt	$25.5B