Broadcom reported Q4 revenue of $8.930 billion, up 21% from $7.407 billion for the same period a year earlier. Earnings per common share – diluted amounted to $7.83, compared with $4.45 a year earlier.
- Semiconductor solution sales amounted to $7.092 billlion compared with $5.634 billion a year earlier
- Infrastructure software sales amounted to $1.838 billion compared with $1.773 billion a year earlier
“Broadcom’s fiscal year 2022 revenue grew 21% year-over-year to a record $33.2 billion, as a result of strong demand from hyperscale, service providers, and enterprise,” said Hock Tan, President and CEO of Broadcom Inc. “This growth was driven by our strong partnerships with customers and accelerated adoption of our next generation technologies. As we look into fiscal 2023, our increased R&D investments during the preceding years position us to extend our leadership in next generation products within the end markets we address.”
“In fiscal 2022 we achieved record adjusted EBITDA margin of 63%, generating $16.3 billion in free cash flow or 49% of revenue, demonstrating our stable and focused business model,” said Kirsten Spears, CFO of Broadcom Inc. “Consistent with our commitment to return cash to shareholders, we will resume our authorized share repurchase programs for the remaining $13 billion, and we are increasing our quarterly common stock dividend by 12 percent to $4.60 per share for fiscal year 2023. The target fiscal 2023 annual common stock dividend of $18.40 per share is a record, and the twelfth consecutive increase in annual dividends since we initiated dividends in fiscal 2011.”
Cash from operations of $4,583 million for the fourth quarter, less capital expenditures of $122 million, resulted in $4,461 million of free cash flow, or 50 percent of revenue.