[Broadcom released fiscal report for the second quarter of fiscal year 2018: net revenue of $5,014 million, up 20% year-on-year] According to foreign media reports, Broadcom Corp. reported on its fiscal second quarter financial report for fiscal year 2018 as of May 6. According to the financial report, according to GAAP, Broadcom’s net revenue for the second fiscal quarter was US$5.014 billion, an increase of 20% from US$4.19 billion in the same period of last year; net profit attributable to ordinary shareholders was US$3.718 billion. , an increase of 745% over the 440 million U.S. dollars in the same period of last year.
“Our business is still very robust and sustainable. This was confirmed by our strong performance in the second quarter, which pushed the gross margin to a record 66.6% and free cash flow to 42.3% of net revenue,†said Broadcom. Chief Executive Officer and President Chen Fuyang said. “In the six weeks ended June 1, 2018, we repurchased 6.4 million shares and returned US$1.5 billion to shareholders. This reflects our commitment to the capital return program and we believe that the stock repurchase can be Our profitability brings attractive returns."
Second Quarter Results (GAAP)
Broadcom’s net revenue for the second fiscal quarter was US$5.014 billion, down 6% from US$5.327 billion in the previous quarter and up 20% from US$4.19 billion in the same period of last year.
Broadcom's gross profit for the second quarter was $2.551 billion, or 50.9% of its net revenue. In contrast, gross profit for the previous quarter was $2.628 billion, or 49.3% of net revenue for the quarter; gross profit for the same period last year was $1.976 billion, or 47.2% of net revenue for the quarter.
Broadcom's operating expenses for the second quarter were $1.350 billion, which was lower than the previous quarter's $1.685 billion, which was lower than the $1.502 billion of the same period last year.
Broadcom’s operating profit for the second quarter was US$1.201 billion, or 24.0% of net revenue. In contrast, the operating profit of the previous quarter was 943 million U.S. dollars, or 17.7% of the net revenue for the quarter; the profit for the same period last year was 474 million U.S. dollars, or 13.3% of the net revenue for the quarter.
Including discontinued operations, Broadcom's second-quarter net profit was $3.733 billion, or $8.33 per diluted share. In contrast, net profit for the previous quarter was $6.566 billion, or $14.62 per diluted share; net profit for the same period last year was $464 million, or $1.05 per diluted share.
Broadcom's second-quarter net profit attributable to ordinary shareholders was $3.718 billion, compared with a net profit of $6.23 billion in the previous quarter, compared with a net profit of $440 million in the same period of last year.
As of the second quarter of fiscal year 2018, Broadcom’s cash and cash equivalents were US$8.187 billion, which was higher than the US$7,076 million it was in the previous quarter. In the second quarter, Broadcom’s cash flow from its operations was US$2.313 billion. It spent approximately US$347 million to repurchase approximately 1.5 million shares of the company’s stock with capital expenditures of US$189 million. In addition, in the first four weeks of the third quarter of fiscal year 2018, Broadcom used another 1.155 billion U.S. dollars for the repurchase of company shares.
On March 29, 2018, Broadcom paid 1.75 U.S. dollars per common share, which cost a total of 727 million U.S. dollars.
Second-quarter earnings from continuing operations (Non-GAAP)
In the second quarter, Broadcom’s net revenue from continuing operations was US$5.017 billion, down 6% from US$5.331 billion in the previous quarter and 19% from US$4.201 billion in the same period of last year.
Broadcom's gross profit from continuing operations in the second quarter was $3.342 billion, or 66.6% of net revenue. In contrast, gross profit from continuing operations in the previous quarter was $3.454 billion, or 64.8% of net revenue in the quarter; gross profit from continuing operations from the same period last year was $2.652 billion, or net 63.1% of revenue.
Broadcom's operating profit from continuing operations for the second quarter was $2.455 billion, or 48.9% of net revenue. In contrast, operating profit from continuing revenue business in the previous quarter was $2.571 billion, or 48.2% of net revenue in the quarter; operating profit from continuing operations was $1.853 billion in the same period last year, or the current quarter 44.1% of net revenue.
Broadcom's second-quarter net profit from continuing operations was $2.243 billion, or $4.88 per diluted share. In contrast, net profit from continuing operations last quarter was $2.345 billion, or $5.12 per diluted share; net profit from continuing operations for the same period last year was $1.666 billion, or 3.69 per diluted share. Dollars.
Broadcom's free cash flow from continuing operations in the second quarter was $2.124 billion.
By sector:
Revenue in the second quarter of the cable infrastructure sector was US$2.295 billion, an increase of 22% from US$1.875 billion in the previous quarter and 9% from US$2.111 billion in the same period of last year.
The second quarter revenue of the wireless communications sector was US$1.294 billion, which was a 41% decrease from the US$2.11 billion in the previous quarter and a 13% increase from the US$1.15 billion in the same period last year.
The company's storage sector reported revenue of $1.162 billion in the second quarter, up 17% from the $991 million in the previous quarter and 63% from $712 million in the same period last year.
The industrial and other sectors’ revenue for the second fiscal quarter was US$263 million, a 5% increase from the US$251 million in the previous quarter and a 21% increase from the US$217 million in the same period of the previous year.
Outlook for the third quarter of fiscal year 2018:
For the fiscal third quarter of fiscal year 2018 as of August 5, Broadcom expects net revenue to be US$5.047 billion, up and down 75 million U.S. dollars; according to non-US GAAP, net revenue is US$5.05 billion, up and down 7500. Ten thousand U.S. dollars.
Gross profit margin is 50.75%, up and down one percentage point. According to non-US GAAP, gross margin is 66.5%, and it is up and down by 1 percentage point.
Operating expenses were $1.272 billion; according to non-US GAAP, operating expenses were $882 million.
Interest expense and other expenses were US$115 million; according to non-US GAAP, interest expenses and other expenses were US$115 million.
The income tax reserve is $39 million; according to non-US GAAP, the income tax reserve is $165 million.
Stock performance:
Broadcom shares rose 1.16 US dollars on the Nasdaq stock exchange on Thursday, closing at 264.68 US dollars, an increase of 0.44%. In the after-hours trading after the financial report was released, Broadcom shares fell 3.70 US dollars to close at 260.98 US dollars, a decrease of 1.40%. In the past 52 weeks, Broadcom's share price has reached a maximum of US$221.98 with a minimum of US$285.68. According to Thursday's closing price, Broadcom's market value is about 108.6 billion US dollars.
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