Broadcom Exceeds Expectations with Strong Revenue Growth in Q1 2024 Earnings Call
Broadcom (AVGO) Q1 2024 Earnings Call Transcript
Broadcom (NASDAQ: AVGO) held its Q1 2024 earnings call on March 7, 2024, reporting a consolidated net revenue of $12 billion, up 34% year-on-year. The earnings call included prepared remarks from Hock Tan, President and CEO, and Kirsten Spears, CFO, highlighting the company's financial performance for the first quarter of fiscal year 2024.
Key Highlights:
- Consolidated net revenue increased by 34% year-on-year
- Semiconductor solutions revenue grew by 4%
- Infrastructure software revenue surged by 153% year-on-year
- Focus on AI technology driving revenue growth and strong bookings
Overall, Broadcom's performance in Q1 2024 demonstrates significant growth in revenue, particularly in the semiconductor solutions and infrastructure software segments. The company's strategic focus on AI technology has resulted in robust revenue growth and strong bookings, setting a positive outlook for fiscal year 2024.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.