Welcome to our dedicated page for Broadcom news (Ticker: AVGO), a resource for investors and traders seeking the latest updates and insights on Broadcom stock.
Broadcom Inc. (NASDAQ: AVGO) is a global leader in semiconductor and infrastructure software solutions powering data centers, enterprise networks, and connectivity ecosystems. This dedicated news hub provides investors and industry professionals with essential updates on corporate developments, technological innovations, and market strategies.
Access authoritative coverage of Broadcom's earnings announcements, product launches, and strategic partnerships. Our curated collection includes press releases and analysis spanning key focus areas: semiconductor advancements for AI infrastructure, enterprise software updates, and strategic acquisitions shaping the digital transformation landscape.
Stay informed about developments in optical interconnect technologies, cybersecurity solutions, and cloud infrastructure innovations. This resource serves as your primary source for tracking Broadcom's role in enabling next-generation networking, storage architectures, and secure enterprise operations.
Bookmark this page for real-time updates on AVGO's market-moving developments. Check regularly for insights into how Broadcom's semiconductor expertise and software integration strategies continue redefining global connectivity standards.
Broadcom Inc. (AVGO) reported strong Q3 FY2024 results, with revenue up 47% year-over-year to $13.072 billion. The company's AI semiconductor solutions and VMware acquisition drove growth. Adjusted EBITDA increased 42% to $8.223 billion, representing 63% of revenue. Free cash flow was $4.791 billion, or 37% of revenue. However, Broadcom reported a GAAP net loss of $1.875 billion due to a one-time tax provision.
For Q4 FY2024, Broadcom projects revenue of approximately $14 billion, a 51% increase from the prior year, with Adjusted EBITDA at 64% of projected revenue. The company expects AI-related revenue to reach $12 billion for FY2024. Broadcom also declared a quarterly dividend of $0.53 per share.
Broadcom Inc. (NASDAQ: AVGO) has launched Rally Anywhere, an on-premises version of its enterprise agility platform. This new offering addresses the needs of global organizations requiring enhanced security, data sovereignty, and support for global value streams. Rally Anywhere enables teams to plan, prioritize, manage, track, and measure at every level while complying with strict data policies.
Key features of Rally Anywhere include:
- Enterprise Security
- Data Sovereignty
- Support for Global Enterprises
With this launch, Broadcom's entire ValueOps Value Stream Management (VSM) solution is now available as SaaS or on-premises. The solution was recently recognized as a leader in the GigaOm Radar report for Agile Planning and Portfolio Management Solutions.
Broadcom Inc. (NASDAQ: AVGO) unveiled VMware Cloud Foundation (VCF) 9 at VMware Explore 2024 Las Vegas. VCF 9 aims to simplify the deployment, consumption, and operations of a secure and cost-effective private cloud. Key features include:
1. Unified operations and automation with a self-service cloud portal
2. Expanded VCF Import capabilities
3. Advanced Memory Tiering with NVMe for AI and data-intensive applications
4. Integrated multi-tenancy and native VPC deployment
5. Enhanced security management and data protection
6. Introduction of VCF Advanced Services
Broadcom also announced investments in a Private Cloud Modernization Program, including a Private Cloud Maturity Model, Jumpstart Program, new VCF certification, and free digital learning resources.
Broadcom Inc. (NASDAQ: AVGO) has announced VMware Tanzu Platform 10, a cloud native application platform designed to accelerate software delivery. This platform enhances governance and operational efficiency for platform engineering teams while reducing complexity for developers. Broadcom also introduced Tanzu AI Solutions, a set of capabilities within Tanzu Platform that enables teams to deliver GenAI-powered intelligent applications quickly and safely at scale.
Key features of Tanzu Platform 10 include:
- A self-managed, global control plane for greater automation and visibility
- Enhanced contextual app-to-platform visibility
- Powerful 'built-in' service binding
- Spring application security and compliance audits
- Faster start-up times for Spring applications
- Elevated compliance enforcement and vulnerability management
Tanzu AI Solutions offers capabilities such as Spring AI, GenAI on Tanzu Platform, and Observability for GenAI, aiming to democratize intelligent application development.
Broadcom Inc. (NASDAQ: AVGO) announced developments in its Software-Defined Edge product portfolio to support Edge AI workloads. Key enhancements include:
1. Combined Fixed Wireless Access (FWA) and satellite connections support in VMware VeloCloud Edge appliances.
2. VMware VeloCloud SASE improvements with integrated VeloCloud and Symantec points of presence (PoPs).
3. VMware Edge Compute Stack product enhancements for simplified deployment and management of edge applications.
These innovations aim to address the growing edge computing market, expected to reach $232 billion in 2024. Broadcom's software-defined edge portfolio helps enterprises manage AI and non-AI workloads across distributed locations, focusing on connectivity, security, and efficient workload management.
Hitachi Vantara and Broadcom have announced a new private and hybrid cloud solution that combines Hitachi's Unified Compute Platform (UCP) RS with VMware Cloud Foundation. This co-engineered solution aims to help organizations manage data proliferation and AI requirements while reducing costs and environmental impact. Key benefits include:
1. Faster time to value with enhanced performance and streamlined infrastructure
2. Flexible deployment supporting VMs, containers, and AI workloads
3. Simplified management with turnkey infrastructure and advanced automation
4. Sustainability features reducing CO2 emissions by up to 96% and data center footprint by up to 35%
The solution offers integrated software, infrastructure, and hardware lifecycle automation, unified management, and guaranteed 100% data availability with Hitachi's Virtual Storage Platform One.
Broadcom Inc. (NASDAQ: AVGO) has announced details for VMware Explore 2024 Las Vegas, scheduled for August 26-29 at The Venetian Convention and Expo Center. The event will feature a general session keynote on August 27 at 9:00 a.m. PT, led by Broadcom President and CEO Hock Tan, titled "Shaping the Future of Cloud and AI Innovation." The conference will offer:
- 500+ sessions across five content tracks
- Certification training and labs
- Networking opportunities
- Access to top cloud providers at The Expo
The general session will be broadcast live for free on the VMware Explore website. Broadcom will also host VMware Explore 2024 Barcelona (November 4-7) and plans for VMware Explore 2025 Las Vegas (August 25-28).
Broadcom Inc. (NASDAQ: AVGO) has introduced Catalyst, an extension of its Accelerate Program, aimed at enhancing service for Symantec and Carbon Black customers. This global initiative empowers elite Enterprise Security Group (ESG) partners to lead go-to-market strategies and customer relationships for these portfolios. Key Catalyst Partners include TD SYNNEX, Arrow Electronics, MBCOM Technologies, Westcon-Comstor, and Carahsoft Technology Corp., each covering specific regions.
Catalyst allows partners to drive profit growth while providing value-added services and support. Broadcom will continue to offer product management, marketing, and enablement tools, along with advanced Tier 3 support. This initiative aims to revolutionize channel partnerships in cybersecurity, allowing partners to customize their approach to meet unique customer needs.
Broadcom Inc. (NASDAQ: AVGO), a global technology leader in semiconductor and infrastructure software solutions, has announced it will release its third quarter fiscal year 2024 financial results on Thursday, September 5, 2024, after market close. The company's management will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day to discuss the results and business outlook.
Investors and analysts can participate in the call by preregistering at the provided link to receive dial-in information. The call will also be accessible live online through Broadcom's Investors website. An audio replay will be available for one year following the call.
Broadcom (NASDAQ: AVGO) announced updates to VMware Cloud Foundation (VCF), enhancing infrastructure modernization, developer productivity, and cybersecurity while maintaining low total cost of ownership. New features include VCF Import, full support for vSAN Max and ESA stretched clusters, optimized VCF Edge configurations, and advanced Kubernetes support. Security improvements include ESXi Live Patching, VMware vDefend lateral security, and dual DPU support. These advancements aim to accelerate digital innovation and adoption. VMware Cloud Foundation 5.2 and vSphere Foundation 5.2 are expected in Q3 FY24.
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