Monday, August 28, 2017
Broadcom had calendar Q2 revenues of $4.46 billion – up 7% on Q1’s $4.19 billion and up 18% from $3.79 billion in calendar Q2 2016.
Gross profit was $2.14 billion up from $1.98 billion in Q1 and the $1.78 billion of calendar Q2 2016.
Opex was $1.5 billion. Operating income was $648 million. Net income, which includes the impact of discontinued operations, was $507 million.
Cash was $5.44 billion compared to $4.45 billion at the end of calendar Q1.
During the quarter, the Company generated $1.66 billion in cash from operations and spent $255 million on capex.
“We continue to execute consistently and delivered strong financial results for our third fiscal quarter, with revenue growth of 6%?and EPS growth of 11% sequentially” says Broadcom CEO Hock Tan (pictured), “we are expecting revenue growth to further accelerate in the fourth fiscal quarter, led by robust content gains and seasonal strength in our wireless segment.”
Broadcom is expected to have won multiple slots in the iPhone8 which will boost its calendar Q3 numbers.
Copyright © 2017 CST, Inc. All Rights Reserved