Broadcom Inc Stock Price, News & Analysis

Broadcom reported a 23% increase in revenue for Q2 2022, totaling $8.1 billion, with GAAP net income reaching $2.59 billion and adjusted EBITDA of $5.11 billion. The GAAP diluted EPS was $5.93, while non-GAAP diluted EPS was $9.07. Free cash flow stood at $4.16 billion. The company expects Q3 revenue of approximately $8.4 billion and announced a new $10 billion share repurchase program. Quarterly dividends remain at $4.10 per share.

Broadcom (AVGO) has announced its acquisition of VMware (VMW) for approximately $61 billion, comprising cash and stock, which marks a significant move to bolster its infrastructure technology portfolio. The deal, unanimously approved by both companies' boards, aims to create a combined entity with an expected pro forma revenue exceeding $40 billion, and software revenue accounting for around 49% of it. Broadcom anticipates adding roughly $8.5 billion of pro forma EBITDA within three years post-acquisition.

Broadcom Inc. (AVGO) has launched the BCM8958X, a high-bandwidth automotive Ethernet switch, addressing increased in-vehicle data demands and facilitating software-defined vehicles (SDV). This 16-port switch features six 10 Gbps capable ports, and integrated PHYs, supporting complex zonal and central compute ECU architectures. The device enables real-time data sharing across multiple connected devices, enhancing vehicle safety. Broadcom's comprehensive Ethernet solution positions it as a leader in automotive technology, paved for future SDV applications.

Broadcom (NASDAQ:AVGO) announced Day One support for its software solutions on IBM's z16 mainframe, enhancing opportunities for organizations to leverage AI, security, and hybrid cloud solutions. This strategic investment enables clients to capitalize on AI and automation, achieving operational resiliency and cost efficiency. By collaborating as part of IBM's Early Ship Program, Broadcom aims to drive innovation in mainframe environments, emphasizing advantages such as improved transaction performance and tailored partnership programs to meet unique business needs.

Broadcom (AVGO) is set to announce its second quarter fiscal year 2022 financial results on June 2, 2022, after market close. A conference call will follow at 2:00 PM PT to discuss these results and the business outlook. Investors can preregister for the call online and it will also be accessible via the Broadcom website. The upcoming earnings will provide crucial insights into Broadcom's performance across its semiconductor and infrastructure software solutions.

Broadcom Inc. (Nasdaq: AVGO) announced the pricing terms for its new notes due 2037 as part of its exchange offers for eligible holders of existing notes. The company has reached the $2.5 billion Notes Cap by the Early Participation Date, meaning no further exchanges will be accepted. The new 4.926% Senior Notes are set to be issued with a fixed spread of 215 bps over the reference U.S. Treasury security. The exchange offers will expire on April 27, 2022, unless extended. Notably, the new notes will not be registered under the Securities Act, limiting their offers and sales.

Broadcom (NASDAQ: AVGO) announced the results of its Early Participation Date for its Exchange Offers, concluding at 5:00 p.m. on April 13, 2022. The offers allow holders of existing notes to exchange them for new notes due in 2037, alongside a cash payment. With the Notes Cap reached, no exchanges after this date will be accepted. An early settlement for accepted notes is scheduled for April 18, 2022, with the total amount of outstanding notes tendered reaching approximately $4.24 billion. The Exchange Offers expire on April 27, 2022.

Broadcom Inc. (NASDAQ: AVGO) has announced the availability of its Wi-Fi 7 chipset solutions, significantly enhancing performance for smartphones and access points. The new technology doubles speeds compared to Wi-Fi 6 and 6E while providing low-latency communication. With features like 320 MHz channel bandwidth and advanced multi-link operation, Wi-Fi 7 is designed for high-demand environments shaped by remote work and immersive gaming. Broadcom expects Wi-Fi 7 revenue to surpass that of earlier technologies within five years, reflecting its strong industry partnerships and market demand.

Broadcom Inc. (Nasdaq: AVGO) and Deutsche Bank will host a webcast on April 19, 2022, at 9:00 a.m. PT to discuss Broadcom's custom silicon business. Key presenters include Hock Tan, CEO, Frank Ostojic, Senior VP, and Vijay Janapaty, VP. Interested parties can register for the event here. A live audio webcast and replay will be available on Broadcom's investor relations website post-event. Broadcom provides semiconductor solutions for markets like data center, networking, and enterprise software.