Broadcom Inc

Transformative Year with Strong Revenue Growth: Broadcom reported a record FY2024 revenue of $51.6 billion, growing 44% year-over-year. Excluding VMware, organic revenue growth was over 9%. The semiconductor revenue reached $30.1 billion, driven significantly by a 220% increase in AI revenue, which soared from $3.8 billion in FY2023 to $12.2 billion in FY2024.

Strong Demand for AI and Networking Solutions: In Q4, AI revenue from custom AI accelerators grew 150% year-on-year to $3.7 billion, representing 41% of total semiconductor revenue. The company expects robust demand to continue, guiding AI revenue for Q1 FY2025 to grow 65% year-on-year to $3.8 billion.

Infrastructure Software Segment Surge: The infrastructure software segment, largely due to the integration of VMware, saw Q4 revenue reach $5.8 billion, an increase of 196% year-on-year. The operating margin for this segment stood at 72%, and the Q1 FY2025 revenue is projected to rise to $6.5 billion, up 41% year-on-year.