(Dollars in millions) |
|
|
|
|
|
|
|
| Q3 20 |
| Q3 19 |
| Change | |||
Cash flow from operations |
|
|
|
|
|
|
|
|
| $ | 3,178 |
| $ | 2,419 |
| +$ 759 |
Adjusted EBITDA |
|
|
|
|
|
|
|
|
| $ | 3,342 |
| $ | 3,064 |
| +$ 278 |
Free cash flow |
|
|
|
|
|
|
|
|
| $ | 3,073 |
| $ | 2,307 |
| +$ 766 |
Net revenue by segment |
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(Dollars in millions) |
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|
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| Q3 20 |
| Q3 19 |
| Change | |||||||||
Semiconductor solutions |
|
|
|
|
|
|
|
|
|
|
| $ | 4,219 |
| 72% |
| $ | 4,375 |
| 79% |
| -4% | |||
Infrastructure software |
|
|
|
|
|
|
|
|
|
|
|
| 1,602 |
| 28 |
|
| 1,140 |
| 21 |
| +41% | |||
Total net revenue |
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|
|
|
|
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|
|
|
| $ | 5,821 |
| 100% |
| $ | 5,515 |
| 100% |
|
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| ||
The Company's cash and cash equivalents at the end of the third fiscal quarter were $8,857 million, compared to $9,207 million at the end of the prior quarter.
During the third fiscal quarter, the Company generated $3,178 million in cash from operations and spent $105 million on capital expenditures.
On June 30, 2020, the Company paid a cash dividend of $3.25 per share of common stock, totaling $1,312 million and a cash dividend of $20.00 per share of mandatory convertible preferred stock, totaling $74 million.
The differences between the Company's GAAP and non-GAAP results are described generally under "Non-GAAP Financial Measures" below, and presented in detail in the financial reconciliation tables attached to this release.
Fourth Quarter Fiscal Year 2020 Business Outlook
Based on current business trends and conditions, the outlook for the fourth quarter of fiscal year 2020, ending November 1, 2020, is expected to be as follows:
- Fourth quarter revenue guidance of $6.4 billion plus or minus $150 million ; and
- Fourth quarter Adjusted EBITDA of $3,744 million plus or minus $75 million , or 58.5% of revenue at the midpoint of guidance.
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