Broadcom reports revenue at $5.4B in Q4, up 12% YoY

Business 12/6/2018, 10:33 PM
Broadcom reports revenue at $5.4B in Q4, up 12% YoY

American semiconductor giant Broadcom Inc. reported on Thursday its revenue for the last quarter of the fiscal year 2018 stood at $5.4 billion, improving 12% compared to the same period a year ago. The company said its diluted earnings per share for the same period amounted to $2.64, jumping 111% year on year. Meanwhile, its revenue for the whole of 2018 was $20.8 billion, increasing 18% compared to the year before that while the full-year diluted earnings per share stood at $28.44, rocketing 607% compared to 2017.

Meanwhile, Broadcom said its fourth-quarter net income was $1.1 billion, 99% higher compared to the same three months last year while the net income for the whole year stood at $9.4 billion, up 29% compared to last year.

"Strong operating performance in the fiscal fourth quarter caps a year of solid results that continues to reinforce the sustainability of our business model. Revenues grew 18% to nearly $21 billion on the back of strong demand for our networking, enterprise storage, wireless and industrial products while operating margin continued to progressively expand to 50%," said Broadcom CEO Hock Tan.

Following the release of corporate results, Broadcom shares fell 1.49% during the aftermarket trade on Wall Street.

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