Broadcom reports earnings and revenue
Broadcom reports earnings an...
Subscribe to Newsletter

Broadcom reports earnings and revenue

3 September 2021
3853
2 min.
4
Broadcom reports earnings and revenue

Broadcom report

Broadcom, which supplies its chips to Apple, on Thursday reported revenue growth well below the industry average (e.g. AMD). Broadcom gives a good outlook but says it is deliberately restraining the pace of sales.

Chip maker Broadcom (AVGO) yesterday released its fiscal third quarter report and gave its outlook for the fourth quarter of 2021, with revenues and profits better than average Wall Street analysts' estimates.

Shares in Broadcom, up 12.3 per cent since the start of the year, were little changed after the report.

One of the world's largest chip makers, Broadcom reported third-quarter revenue growth of 16% compared with the same quarter last year. According to Broadcom's quarterly sales revenue statistics, the company is increasing sales at a small pace (second quarter revenue growth of +15%), which is very different from the growth "boom" among other chipmakers.

For example, AMD (AMD) reported sales revenue growth of 99% in the second quarter, while Nvidia (NVDA) reported revenue growth of 68% in the same quarter. AMD and Nvidia's year-to-date share gains of 19% and 71.55% respectively also outpaced those of Broadcom.

The semiconductor makers' market capitalisation (as of Tuesday's close of trading) was Broadcom at $197.7bn, AMD at $127.5bn and Nvidia at $545.85bn.

With a customer as big as Apple (AAPL), Broadcom is also benefiting from sales of wireless chips for the latest 5G iPhones.

In addition, Broadcom also has a growing business in software for mainframe infrastructure, data centres and cybersecurity.

Broadcom's Q3 FY2021 earnings and revenue report

Earnings rose 29% to $6.96 per share, higher than the $6.88 forecast by market analysts. Quarterly earnings rose to $1.88 billion, up from a profit of $688 million last year. Revenues rose 16% to $6.78 billion, which also beat analyst estimates of $6.76 billion. Broadcom's quarterly revenue and earnings statistics.

Chip sales rose 19% to $5.02 billion in revenue.

Infrastructure software segment sales grew 10% to $1.76 billion, accounting for 26% of all sales.

Broadcom's cash balance and free cash flow increased compared to last year.

Companies4 in the news

NVIDIA
1 place
Broadcom
2 place
Apple
4 place
Section:
Rating companies
Netflix
18 Mention
Instagram
15 Mention
X (Twitter)
11 Mention
Tesla
11 Mention
Amazon
8 Mention
TikTok
8 Mention
White House
7 Mention
JP Morgan Chase
7 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Population
8158463743
Died this year
45640813
Born this year
112284478