- Revenue of $7,407 million for the fourth quarter, up 15 percent from the prior year period
SAN JOSE, Calif., Dec. 9, 2021 — (PRNewswire) — Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today reported financial results for its fourth quarter and fiscal year 2021, ended October 31, 2021, provided guidance for the first quarter of its fiscal year 2022 and announced its quarterly dividends."Broadcom concluded the year with record fourth quarter results driven by a rebound in enterprise, and continued strength from cloud and service provider demand. Our infrastructure software growth continues to be steady with our focus on strategic customers," said Hock Tan, President and CEO of Broadcom Inc. "With the strength and breadth of our IP portfolio, we continue to be able to uniquely deliver leading edge, best-in-class semiconductor solutions, and extend our leadership in our franchise markets."
"In fiscal 2021, we achieved record adjusted EBITDA margin of 60%, generating $13.3 billion of free cash flow, or 49% of revenue," said Kirsten Spears, CFO of Broadcom Inc. "Consistent with our commitment to return excess cash to shareholders, we are increasing our target quarterly common stock dividend by 14 percent to $4.10 per share per quarter for fiscal year 2022, and announcing a new $10 billion share repurchase program."
Fourth Quarter Fiscal Year 2021 Financial Highlights
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| GAAP |
| Non-GAAP | ||||||||||||||
(Dollars in millions, except per share data) |
| Q4 21 |
| Q4 20 |
| Change |
| Q4 21 |
| Q4 20 |
| Change | ||||||
Net revenue |
| $ | 7,407 |
| $ | 6,467 |
| +15% |
| $ | 7,407 |
| $ | 6,467 |
| +15% | ||
Net income |
| $ | 1,989 |
| $ | 1,324 |
| +$ | 665 |
| $ | 3,501 |
| $ | 2,865 |
| +$ | 636 |
Earnings per common share - diluted |
| $ | 4.45 |
| $ | 2.93 |
| +$ | 1.52 |
| $ | 7.81 |
| $ | 6.35 |
| +$ | 1.46 |
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| Q4 21 |
| Q4 20 |
| Change | |||
| Cash flow from operations |
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| $ | 3,541 |
| $ | 3,348 |
| +$ | 193 |
| Adjusted EBITDA |
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| $ | 4,547 |
| $ | 3,827 |
| +$ | 720 |
| Free cash flow |
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| $ | 3,453 |
| $ | 3,246 |
| +$ | 207 |
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| Net revenue by segment |
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| (Dollars in millions) |
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| Q4 21 |
| Q4 20 |
| Change | |||||||||
| Semiconductor solutions |
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| $ | 5,634 |
| 76% |
| $ | 4,830 |
| 75% |
| +17% | |||
| Infrastructure software |
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| 1,773 |
| 24 |
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| 1,637 |
| 25 |
| +8% | |||
| Total net revenue |
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| $ | 7,407 |
| 100% |
| $ | 6,467 |
| 100% |
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