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Broadcom Q1 net revenue $5,789 million, gross margin $3,208 million

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Staff Writer | Friday March 15, 2019 6:30AM ET
Broadcom
Broadcom   Operating expenses were $2,653 million

Broadcom reported financial results for its first quarter of fiscal year 2019, ended February 3, 2019, and announced a quarterly dividend.


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Net revenue was $5,789 million, an increase of 6.3 percent from $5,444 million in the previous quarter and an increase of 8.7 percent from $5,327 million in the same quarter last year.

Broadcom's gross margin was $3,208 million, or 55.4 percent of net revenue. This compares with gross margin of $2,935 million, or 53.9 percent of net revenue, in the prior quarter, and gross margin of $2,628 million, or 49.3 percent of net revenue, in the same quarter last year.

Operating expenses were $2,653 million. This compares with $1,283 million in the prior quarter and $1,685 million in the same quarter last year.

Broadcom's operating income was $555 million, or 9.6 percent of net revenue. This compares with operating income of $1,652 million, or 30.3 percent of net revenue, in the prior quarter, and operating income of $943 million, or 17.7 percent of net revenue, in the same quarter last year.

Net income, which includes the impact of discontinued operations, was $471 million, or $1.12 per diluted share. This compares with net income of $1,115 million, or $2.64 per diluted share, in the prior quarter, and net income of $6,566 million, or $14.62 per diluted share, in the same quarter last year.

 

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