Broadcom nears total VMware integration as chip business booms [Yahoo! Finance]
Broadcom Inc. (AVGO)
Last broadcom inc. earnings: 3/12 04:15 pm
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Source: Yahoo! Finance
Dive Brief: Broadcom nearly completed its integration of VMware and almost tripled infrastructure software revenues during fiscal year 2024 to $21.5 billion as a result, Broadcom CEO Hock Tan said Thursday, speaking during a Q4 2024 earnings call . Segment revenues were just $7.6 billion the prior year The chipmaker also saw its semiconductor business spike to $30.1 billion on the year, driven largely by AI. “Our AI revenue, which came from strength in custom AI accelerators or XPUs and networking, grew 220%,” Tan said. Broadcom's acquisition of VMware expanded the company's software segment to nearly the level of its chipmaking business. Infrastructure software revenues increased by 196% year over year in Q4 to $5.8 billion, largely due to VMware, Tan said. The segment now represents 41% of Broadcom's total business. Dive Insight: VMware has been a boon to Broadcom's bottom line. But the $61 billion acquisition rattled even top-tier enterprise customers, as Broadcom bundle
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News
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AVGO
Earnings
- 12/12/24 - Beat
AVGO
Sec Filings
- 12/20/24 - Form 10-K
- 12/20/24 - Form 144
- 12/19/24 - Form 4
- AVGO's page on the SEC website