BROADCOM INC Reports First Quarter FY2023 Earnings Results on March 2, 2023
March 8, 2023
Earnings Overview
On March 2, 2023, Broadcom Inc ($NASDAQ:AVGO) announced their financial results for the first quarter of FY2023, ending on January 31, 2023. Revenue was reported at USD 3.8 billion, a 52.6% increase compared to the same quarter a year ago. Additionally, net income was up 15.6%, totaling USD 8.9 billion.
Market Price
On Thursday, BROADCOM INC stock opened at $589.4 and closed at $598.6, up by 0.9% from last closing price of $593.6. The financial report for the first quarter of FY2023 showed a strong financial performance despite the global pandemic. This indicates that BROADCOM INC has managed to maintain its profitability despite the challenging environment.
Overall, BROADCOM INC has reported strong financial results for the first quarter of FY2023, with revenue and earnings growth indicating strong performance in the first quarter of the fiscal year. The stock price of BROADCOM INC closed at $598.6 on Thursday, up from its previous closing price of $593.6 and is likely to remain resilient in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Broadcom Inc. More…
| Total Revenues | Net Income | Net Margin |
| 34.41k | 12.6k | 37.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Broadcom Inc. More…
| Operations | Investing | Financing |
| 17.29k | -461 | -14.4k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Broadcom Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 72.98k | 49.67k | 55.91 |
Key Ratios Snapshot
Some of the financial key ratios for Broadcom Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.9% | 58.7% | 44.5% |
| FCF Margin | ROE | ROA |
| 49.0% | 41.6% | 13.1% |
Analysis
GoodWhale has conducted an analysis of BROADCOM INC‘s wellbeing and the results indicate that the company is a medium risk investment in terms of financial and business aspects. In order to better understand BROADCOM INC’s current position and future prospects, GoodWhale has detected two risk warnings in their income sheet and balance sheet. If you are a registered user, you can access this information to better inform your investment decisions. GoodWhale is committed to helping our users make informed decisions about their investments. We are constantly monitoring the market and conducting analyses to ensure that our users have access to the most up-to-date information and insights. We hope that our analysis of BROADCOM INC can help you make more informed decisions about your investments. More…
Peers
Since its inception in 1991, Broadcom Inc has been a leading provider of semiconductor solutions. Its competitors, Qualcomm Inc, NVIDIA Corp, and Qorvo Inc, have all tried to keep up with Broadcom’s innovation and technology. While Qualcomm and NVIDIA have been able to maintain a strong presence in the market, Qorvo has struggled to keep up.
– Qualcomm Inc ($NASDAQ:QCOM)
Qualcomm Inc. is an American multinational semiconductor and telecommunications equipment company that designs and markets wireless telecommunications products and services. It has a market cap of 132.13B as of 2022 and a Return on Equity of 65.09%. The company was founded in 1985 and is headquartered in San Diego, California. Qualcomm is a leading provider of wireless technology and services for the mobile industry. It offers a comprehensive portfolio of products and services that enable mobile devices to connect to the Internet, including chipsets, modem and router technologies, and software and services.
– NVIDIA Corp ($NASDAQ:NVDA)
Nvidia is an American technology company that designs graphics processing units (GPUs) for the gaming and professional markets, as well as system on a chip units (SoCs) for the mobile computing and automotive market.
Nvidia’s market cap is currently $336.08B, with a ROE of 20.03%. The company has seen strong growth in recent years, driven by demand for its GPUs in the gaming market. Nvidia is also expanding into new markets such as autonomous vehicles and artificial intelligence.
– Qorvo Inc ($NASDAQ:QRVO)
Qorvo Inc is a company that provides radio frequency (RF) solutions for mobile, infrastructure, and defense applications. It has a market cap of 8.88B as of 2022 and a Return on Equity of 14.5%. The company’s products include power amplifiers, filters, and switches.
Summary
This has been seen as a sign of strong financial performance for the company and has caused many investors to take a closer look at investing in BROADCOM INC. Investors are interested in the company’s long-term prospects and the soundness of its current financials, with their focus being on the company’s ability to generate cash flow and create value for shareholders. In addition, the company’s dividend payout ratio is also being closely monitored. All in all, investors are optimistic that BROADCOM INC is a solid investment opportunity.
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