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Broadcom Q4 net revenue $5,444 million

Broadcom
Broadcom   Gross margin was $2,935 million

Broadcom reported financial results for the fourth fiscal quarter and fiscal year ended November 4, 2018, and provided guidance for its fiscal year 2019.


The company completed its acquisition of CA Technologies on November 5, 2018. The financial results do not include any contribution from CA Technologies.

Fourth quarter fiscal year 2018 GAAP results from continuing operations

Net revenue was $5,444 million, an increase of 8 percent from $5,063 million in the previous quarter and an increase of 12 percent from $4,844 million in the same quarter last year.

Gross margin was $2,935 million, or 53.9 percent of net revenue. This compares with gross margin of $2,619 million, or 51.7 percent of net revenue, in the prior quarter, and gross margin of $2,383 million, or 49.2 percent of net revenue, in the same quarter last year.

Operating expenses were $1,283 million. This compares with $1,280 million in the prior quarter and $1,628 million in the same quarter last year.

Operating income was $1,652 million, or 30.3 percent of net revenue. This compares with operating income of $1,339 million, or 26.4 percent of net revenue, in the prior quarter, and operating income of $755 million, or 15.6 percent of net revenue, in the same quarter last year.

Net income, which includes the impact of discontinued operations, was $1,115 million, or $2.64 per diluted share. This compares with net income of $1,196 million, or $2.71 per diluted share, in the prior quarter, and net income of $561 million, or $1.25 per diluted share, in the same quarter last year.

The company's cash and cash equivalents at the end of the fourth fiscal quarter were $4,292 million, compared to $4,136 million at the end of the prior quarter.

During the fourth fiscal quarter, the company generated $2,635 million in cash from operations and spent $1,533 million repurchasing an aggregate of 6.4 million shares and $106 million in capital expenditures.

On September 28, 2018, the company paid a cash dividend of $1.75 per share of common stock, totaling $723 million.

Fiscal year 2018 financial results from continuing operations

Net revenue from continuing operations was $20,848 million, an increase of 18 percent from $17,636 million in the prior year.

Gross margin was $10,733 million, or 51.5 percent of net revenue, versus $8,509 million, or 48.2 percent of net revenue, in the prior year.

Operating income was $5,135 million compared with $2,383 million in the prior year. Net income, which includes the impact from discontinued operations, was $12,610 million, or $28.44 per diluted share. This compares with a net income of $1,784 million, or $4.02 per diluted share, in fiscal year 2017.

 

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