Broadcom Inc. reported fiscal fourth-quarter 2024 net revenue of $14.05 billion, a 51% increase year-over-year, slightly below analyst estimates of $14.08 billion. The company's adjusted earnings per share came in at $1.42, surpassing the average analyst estimate of $1.39.
Net income for the quarter was $4.32 billion, or 90 cents per share, up 23% from $3.52 billion, or 83 cents per share, in the prior year. The Semiconductor Solutions segment saw revenue increase 12% to $8.23 billion, while AI revenue for the full fiscal year jumped 220% to $12.2 billion.
The Infrastructure Software division generated $5.82 billion in revenue, nearly tripling year-over-year, significantly boosted by the VMware acquisition. For the first fiscal quarter of 2025, Broadcom provided revenue guidance of approximately $14.6 billion, exceeding the $14.57 billion average analyst estimate.
CEO Hock Tan highlighted a "massive" AI opportunity over the next three years, expecting three hyperscale customers to deploy 1 million AI chips in networked clusters by 2027. The total market opportunity for Broadcom's AI chips (XPUs) and AI networking could range from $60 billion to $90 billion by 2027.
In a move to return capital to shareholders, Broadcom announced an 11% increase in its quarterly dividend for fiscal 2025, raising it to $0.59 per share. This reflects confidence in the company's strong financial performance and future growth prospects.
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