BROADCOM (NASDAQ : AVGO) LATEST EARNINGS CALL - Q4 FY 2020 - CEO COMMENTARY ON EARNINGS AND GROWTH - 12/11/2020
- Revenue of $6,467 million for the fourth quarter, up 12 percent from the prior year period
- GAAP net income of $1,324 million for the fourth quarter; Adjusted EBITDA of $3,827 million for the fourth quarter
- GAAP diluted EPS of $2.93 for the fourth quarter; Non-GAAP diluted EPS of $6.35 for the fourth quarter
- $3,246 million of free cash flow from operations for the fourth quarter, defined as cash from operations of $3,348 million less capital expenditures of $102 million
- Quarterly common stock dividend increased by 11 percent to $3.60 per share from the prior quarter
- First quarter revenue guidance of approximately $6.6 billion, an expected increase of 13 percent from the prior year period
- First quarter Adjusted EBITDA guidance of approximately $3.9 billion, or 59 percent of projected revenue¹
First Quarter Fiscal Year 2021 Business Outlook
Based on current business trends and conditions, the outlook for the first quarter of fiscal year 2021, ending January 31, 2021, is expected to be as follows:
First quarter revenue guidance of approximately $6.6 billion; and
First quarter Adjusted EBITDA of approximately $3.9 billion, or 59 percent of projected revenue.
The guidance provided above is only an estimate of what the Company believes is realizable as of the date of this release. The Company is not readily able to provide a reconciliation of projected Adjusted EBITDA to projected net income without unreasonable effort. Actual results will vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.
Broadcom Inc. will be presenting to investors at the J.P. Morgan Tech Forum on January 12, 2021.
Quarterly Dividends
The Company's Board of Directors has approved a quarterly cash dividend on its common stock of $3.60 per share. The common stock dividend is payable on December 31, 2020 to common stockholders of record at the close of business (5:00 p.m. Eastern Time) on December 21, 2020.
The Company's Board of Directors has also approved a quarterly cash dividend on its 8.00% Mandatory Convertible Preferred Stock, Series A, of $20.00 per share. This dividend is payable on December 31, 2020 to preferred stockholders of record at the close of business (5:00 p.m. Eastern Time) on December 15, 2020.
