• Revenue of $9,295 million for the fourth quarter, up 4 percent from the prior year period
  • Cash from operations of $4,828 million for the fourth quarter, less capital expenditures of $105 million, resulted in $4,723 million of free cash flow, or 51 percent of revenue
  • Quarterly common stock dividend increased by 14 percent from the prior quarter to $5.25
  • Adjusted EBITDA of $6,048 million for the fourth quarter, or 65 percent of revenue
  • Non-GAAP diluted EPS of $11.06 for the fourth quarter; GAAP diluted EPS of $8.25 for the fourth quarter
  • Fiscal 2024 annual revenue guidance of approximately $50.0 billion including contribution from VMware, an increase of 40 percent from the prior year period
  • Fiscal 2024 annual Adjusted EBITDA guidance of approximately 60 percent of projected revenue (1)

PALO ALTO, Calif., Dec. 7, 2023 /PRNewswire/ -- Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today reported financial results for its fourth quarter and fiscal year ended October 29, 2023, provided guidance for its fiscal year 2024 and announced its quarterly dividend.

"Broadcom's fiscal year 2023 revenue grew 8% year-over-year to a record $35.8 billion, driven by investments in accelerators and network connectivity for AI by hyperscalers," said Hock Tan, President and CEO of Broadcom Inc. "The acquisition of VMware is transformational. In fiscal year 2024 we expect semiconductor to sustain its mid to high single digit revenue growth rate, with the contribution of VMware driving consolidated revenue to $50 billion, and adjusted EBITDA to $30 billion."

"In fiscal year 2023 we achieved record adjusted EBITDA margin of 65%, generating $17.6 billion in free cash flow or 49% of revenue, demonstrating our stable and diversified business model," said Kirsten Spears, CFO of Broadcom Inc. "With this transformational acquisition and expected increase in cash flows, we are increasing our quarterly common stock dividend by 14% to $5.25 per share for fiscal year 2024. The target fiscal 2024 annual common stock dividend of $21.00 per share is a record, and the thirteenth consecutive increase in annual dividends since we initiated dividends in fiscal 2011."

Fourth Quarter Fiscal Year 2023 Financial Highlights    



GAAP


Non-GAAP

(Dollars in millions, except per share data)


Q4 23


Q4 22


Change 



Q4 23


Q4 22


Change 

Net revenue


$

9,295


$

8,930


+

4

%

$

9,295


$

8,930


+

4

%

Net income


$

3,524


$

3,359


+$

165



$

4,810


$

4,544


+$

266


Earnings per common share - diluted


$

8.25


$

7.83


+$

0.42



$

11.06


$

10.45


+$

0.61



(Dollars in millions)



























































Q4 23


Q4 22


Change  

Cash flow from operations



























































$

4,828


$

4,583


+$

245

Adjusted EBITDA



























































$

6,048


$

5,722


+$

326

Free cash flow



























































$

4,723


$

4,461


+$

262


Net revenue by segment
































































(Dollars in millions)


















































Q4 23


Q4 22


Change   

Semiconductor solutions


















































$

7,326


79

%

$

7,092


79

%

+3

%

Infrastructure software



















































1,969


21




1,838


21



+7

%

Total net revenue


















































$

9,295


100

%


$

8,930


100

%





The Company's cash and cash equivalents at the end of the fiscal quarter were $14,189 million, compared to $12,055 million at the end of the prior quarter.

During the fourth fiscal quarter, the Company generated $4,828 million in cash from operations and spent $105 million on capital expenditures.

On September 29, 2023, the Company paid a cash dividend of $4.60 per share, totaling $1,904 million.

The differences between the Company's GAAP and non-GAAP results are described generally under "Non-GAAP Financial Measures" below, and presented in detail in the financial reconciliation tables attached to this release.

Fiscal Year 2023 Financial Highlights  



GAAP


Non-GAAP

(Dollars in millions, except per share data)


FY 23


FY 22


Change


FY 23


FY 22


Change 

Net revenue


$

35,819


$

33,203


+

8

%


$

35,819


$

33,203


+

8

%

Net income


$

14,082


$

11,495


+$

2,587



$

18,378


$

16,526


+$

1,852


Earnings per common share - diluted


$

32.98


$

26.53


+$

6.45



$

42.25


$

37.64


+$

4.61



(Dollars in millions)



























































FY 23



FY 22


 Change  

Cash flow from operations


























































$

18,085


$

16,736


+$

1,349

Adjusted EBITDA


























































$

23,213


$

21,029


+$

2,184

Free cash flow


























































$

17,633


$

16,312


+$

1,321


Net revenue by segment
































































(Dollars in millions)


















































FY 23


FY 22


Change   

Semiconductor solutions


















































$

28,182


79

%

$

25,818


78

%

+9

%

Infrastructure software



















































7,637


21




7,385


22



+3

%

Total net revenue


















































$

35,819


100

%


$

33,203


100

%





Fiscal Year 2024 Business Outlook

Based on current business trends and conditions, the outlook for continuing operations for fiscal year 2024, ending November 3, 2024, including contributions from VMware, is expected to be as follows: 

  • Fiscal year 2024 revenue guidance of approximately $50.0 billion; and
  • Fiscal year 2024 adjusted EBITDA guidance of approximately 60 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.

Quarterly Dividends

The Company's Board of Directors has approved a quarterly cash dividend of $5.25 per share. The dividend is payable on December 29, 2023 to stockholders of record at the close of business (5:00 p.m. Eastern Time) on December 20, 2023.

Financial Results Conference Call

Broadcom Inc. will host a conference call to review its financial results for the fourth quarter fiscal year 2023 and to discuss the business outlook, today at 2:00 p.m. Pacific Time.

To Listen via Internet: The conference call can be accessed live online in the Investors section of the Broadcom website at https://investors.broadcom.com/.

To Listen via Telephone: Preregistration is required by the conference call operator. Please preregister at https://register.vevent.com/register/BIacd438722e7946a58b1c10d35c792d79. Upon registering, you will be emailed a link to the dial-in number and unique PIN.

Replay: An audio replay of the conference call can be accessed for one year through the Investors section of Broadcom's website at https://investors.broadcom.com/.

Non-GAAP Financial Measures

The non-GAAP measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. Broadcom believes non-GAAP financial information provides additional insight into the Company's on-going performance. Therefore, Broadcom provides this information to investors for a more consistent basis of comparison and to help them evaluate the results of the Company's on-going operations and enable more meaningful period to period comparisons. 

In addition to GAAP reporting, Broadcom provides investors with net income, operating income, gross margin, operating expenses, cash flow and other data on a non-GAAP basis. This non-GAAP information excludes amortization of acquisition-related intangible assets, stock-based compensation expense, restructuring and other charges, acquisition-related costs, including integration costs, non-GAAP tax reconciling adjustments, and other adjustments. Management does not believe that these items are reflective of the Company's underlying performance. Internally, these non-GAAP measures are significant measures used by management for purposes of evaluating the core operating performance of the Company, establishing internal budgets, calculating return on investment for development programs and growth initiatives, comparing performance with internal forecasts and targeted business models, strategic planning, evaluating and valuing potential acquisition candidates and how their operations compare to the Company's operations, and benchmarking performance externally against the Company's competitors. The exclusion of these and other similar items from Broadcom's non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent or unusual.

Free cash flow measures have limitations as they omit certain components of the overall cash flow statement and do not represent the residual cash flow available for discretionary expenditures. Investors should not consider presentation of free cash flow measures as implying that stockholders have any right to such cash. Broadcom's free cash flow may not be calculated in a manner comparable to similarly named measures used by other companies.

About Broadcom

Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom's category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com. 

Cautionary Note Regarding Forward-Looking Statements 

This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, our plans and expectations with regard to our share repurchases, and other statements identified by words such as "will," "expect," "believe," "anticipate," "estimate," "should," "intend," "plan," "potential," "predict," "project," "aim," and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of Broadcom's management, as well as assumptions made by and information currently available to such management, current market trends and market conditions and involve risks and uncertainties, many of which are outside the control of Broadcom and its management, that may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements.

Particular uncertainties that could materially affect future results include risks associated with: global economic conditions and concerns; government regulations and administrative proceedings, trade restrictions and trade tensions; global political and economic conditions; our acquisition of VMware, Inc., including employee retention, unexpected costs, charges or expenses, and our ability to successfully integrate VMware's business and realize the expected benefits; any acquisitions we may make, including our acquisition of VMware, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; dependence on and risks associated with distributors and resellers of our products; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; dependence on senior management and our ability to attract and retain qualified personnel; our ability to protect against cyber security threats and a breach of security systems; cyclicality in the semiconductor industry or in our target markets; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; our ability to accurately estimate customers' demand and adjust our manufacturing and supply chain accordingly; our ability to continue achieving design wins with our customers, as well as the timing of any design wins; prolonged disruptions of our or our contract manufacturers' manufacturing facilities, warehouses or other significant operations; our ability to improve our manufacturing efficiency and quality; involvement in legal proceedings; demand for our data center virtualization products; customer and market acceptance of our products and services; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; availability of third-party software used in our products; use of open source software in our products; ability of our software products to manage and secure IT infrastructures and environments; sales to government customers; our ability to manage products and services lifecycles; quarterly and annual fluctuations in operating results; our competitive performance; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims, or other undetected defects or bugs; our ability to sell to new types of customers and to keep pace with technological advances; our compliance with privacy and data security laws; the amount and frequency of our share repurchase programs; fluctuations in foreign exchange rates; our provision for income taxes and overall cash tax costs, legislation that may impact our overall cash tax costs, our ability to maintain tax concessions in certain jurisdictions and potential tax liabilities as a result of acquiring VMware; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. We are not obligated to repurchase any specific amount of shares of common stock, and the stock repurchase programs may be suspended or terminated at any time.

Our filings with the SEC, which you may obtain for free at the SEC's website at http://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.

Contact:
Ji Yoo
Broadcom Inc.
Investor Relations
650-427-6000
investor.relations@broadcom.com

(AVGO-Q)


(1) The Company is not readily able to provide a reconciliation of the projected non-GAAP financial information presented to the relevant projected GAAP measure without unreasonable effort.

 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED

(IN MILLIONS, EXCEPT PER SHARE DATA)



































Fiscal Quarter Ended


Fiscal Year Ended



October 29,


July 30,


October 30,


October 29,


October 30,



2023


2023


2022


2023


2022

















Net revenue


$

9,295


$

8,876


$

8,930


$

35,819


$

33,203

Cost of revenue:
















Cost of revenue



2,449



2,272



2,298



9,272



8,256

Amortization of acquisition-related intangible assets



438



439



705



1,853



2,847

Restructuring charges



1



1



1



4



5

Total cost of revenue



2,888



2,712



3,004



11,129



11,108

Gross margin



6,407



6,164



5,926



24,690



22,095

Research and development



1,388



1,358



1,197



5,253



4,919

Selling, general and administrative



418



388



370



1,592



1,382

Amortization of acquisition-related intangible assets



348



350



358



1,394



1,512

Restructuring and other charges



13



212



15



244



57

Total operating expenses



2,167



2,308



1,940



8,483



7,870

Operating income



4,240



3,856



3,986



16,207



14,225

Interest expense



(405)



(406)



(406)



(1,622)



(1,737)

Other income (expense), net



132



124



40



512



(54)

Income before income taxes



3,967



3,574



3,620



15,097



12,434

Provision for income taxes



443



271



261



1,015



939

Net income



3,524



3,303



3,359



14,082



11,495

Dividends on preferred stock



-



-



(48)



-



(272)

Net income attributable to common stock


$

3,524


$

3,303


$

3,311


$

14,082


$

11,223

















Net income per share attributable to common stock:
















Basic


$

8.53


$

8.00


$

8.06


$

33.93


$

27.44

Diluted (1)


$

8.25


$

7.74


$

7.83


$

32.98


$

26.53

















Weighted-average shares used in per share calculations:















Basic



413



413



411



415



409

Diluted (1)



427



427



429



427



423

















Stock-based compensation expense:
















Cost of revenue


$

62


$

61


$

38


$

210


$

147

Research and development



448



444



260



1,513



1,048

Selling, general and administrative



128



124



89



448



338

Total stock-based compensation expense


$

638


$

629


$

387


$

2,171


$

1,533


(1) Excludes the potentially dilutive effect of Mandatory Convertible Preferred Stock as the impact was
antidilutive for the fiscal year ended October 30, 2022. All outstanding shares of Mandatory Convertible

Preferred Stock were converted into our common stock during the fiscal quarter ended October 30, 2022.













 

BROADCOM INC.

FINANCIAL RECONCILIATION: GAAP TO NON-GAAP - UNAUDITED

(IN MILLIONS)



































Fiscal Quarter Ended


Fiscal Year Ended



October 29,


July 30,


October 30,


October 29,


October 30,



2023


2023


2022


2023


2022

















Gross margin on GAAP basis


$

6,407


$

6,164


$

5,926


$

24,690


$

22,095

Amortization of acquisition-related intangible assets



438



439



705



1,853



2,847

Stock-based compensation expense



62



61



38



210



147

Restructuring charges



1



1



1



4



5

Acquisition-related costs



-



-



3



-



13

Gross margin on non-GAAP basis


$

6,908


$

6,665


$

6,673


$

26,757


$

25,107

















Research and development on GAAP basis


$

1,388


$

1,358


$

1,197


$

5,253


$

4,919

Stock-based compensation expense



448



444



260



1,513



1,048

Acquisition-related costs



-



1



-



-



-

Research and development on non-GAAP basis


$

940


$

913


$

937


$

3,740


$

3,871

















Selling, general and administrative expense on GAAP basis


$

418


$

388


$

370


$

1,592


$

1,382

Stock-based compensation expense



128



124



89



448



338

Acquisition-related costs



69



48



45



252



102

Selling, general and administrative expense on non-GAAP basis


$

221


$

216


$

236


$

892


$

942

















Total operating expenses on GAAP basis


$

2,167


$

2,308


$

1,940


$

8,483


$

7,870

Amortization of acquisition-related intangible assets



348



350



358



1,394



1,512

Stock-based compensation expense



576



568



349



1,961



1,386

Restructuring and other charges



13



212



15



244



57

Acquisition-related costs



69



49



45



252



102

Total operating expenses on non-GAAP basis


$

1,161


$

1,129


$

1,173


$

4,632


$

4,813

















Operating income on GAAP basis


$

4,240


$

3,856


$

3,986


$

16,207


$

14,225

Amortization of acquisition-related intangible assets



786



789



1,063



3,247



4,359

Stock-based compensation expense



638



629



387



2,171



1,533

Restructuring and other charges



14



213



16



248



62

Acquisition-related costs



69



49



48



252



115

Operating income on non-GAAP basis


$

5,747


$

5,536


$

5,500


$

22,125


$

20,294

















Interest expense on GAAP basis


$

(405)


$

(406)


$

(406)


$

(1,622)


$

(1,737)

Loss on debt extinguishment



-



-



-



-



112

Interest expense on non-GAAP basis


$

(405)


$

(406)


$

(406)


$

(1,622)


$

(1,625)

















Other income (expense), net on GAAP basis


$

132


$

124


$

40


$

512


$

(54)

(Gains) losses on investments



24



(2)



29



(11)



169

Other



(1)



-



-



(1)



(5)

Other income, net on non-GAAP basis


$

155


$

122


$

69


$

500


$

110

















Provision for income taxes on GAAP basis


$

443


$

271


$

261


$

1,015


$

939

Non-GAAP tax reconciling adjustments



244



385



358



1,610



1,314

Provision for income taxes on non-GAAP basis


$

687


$

656


$

619


$

2,625


$

2,253

















Net income on GAAP basis


$

3,524


$

3,303


$

3,359


$

14,082


$

11,495

Amortization of acquisition-related intangible assets



786



789



1,063



3,247



4,359

Stock-based compensation expense



638



629



387



2,171



1,533

Restructuring and other charges



14



213



16



248



62

Acquisition-related costs



69



49



48



252



115

Loss on debt extinguishment



-



-



-



-



112

(Gains) losses on investments



24



(2)



29



(11)



169

Other



(1)



-



-



(1)



(5)

Non-GAAP tax reconciling adjustments



(244)



(385)



(358)



(1,610)



(1,314)

Net income on non-GAAP basis


$

4,810


$

4,596


$

4,544


$

18,378


$

16,526

































Weighted-average shares used in per share calculations - diluted on GAAP basis



427



427



429



427



423

Non-GAAP adjustment (1)



8



9



6



8



16

Weighted-average shares used in per share calculations - diluted on non-GAAP basis



435



436



435



435



439

































Net income on non-GAAP basis


$

4,810


$

4,596


$

4,544


$

18,378


$

16,526

Interest expense



405



406



406



1,622



1,625

Provision for income taxes on non-GAAP basis



687



656



619



2,625



2,253

Depreciation



124



122



129



502



529

Amortization of purchased intangibles and right-of-use assets



22



21



24



86



96

Adjusted EBITDA


$

6,048


$

5,801


$

5,722


$

23,213


$

21,029

















Net cash provided by operating activities


$

4,828


$

4,719


$

4,583


$

18,085


$

16,736

Purchases of property, plant and equipment



(105)



(122)



(122)



(452)



(424)

Free cash flow


$

4,723


$

4,597


$

4,461


$

17,633


$

16,312



































 Fiscal Year
  Ending 















November 3,













Expected average diluted share count (2)


2024





























Weighted-average shares used in per share calculation - diluted on GAAP basis


480













Non-GAAP adjustment (1)


14













Weighted-average shares used in per share calculation - diluted on non-GAAP basis


494














(1) Non-GAAP adjustment for the number of shares used in the diluted per share calculations excludes the impact of stock-based compensation
expense expected to be incurred in future periods and not yet recognized in the financial statements, which would otherwise be assumed to be used
to repurchase shares under the GAAP treasury stock method. In addition, the non-GAAP adjustment includes the impact of Mandatory Convertible
Preferred Stock that is antidilutive on a GAAP basis for the fiscal year ended October 30, 2022.

(2) Excludes the effects of potential share repurchases.































 

BROADCOM INC.

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED

(IN MILLIONS)



















October 29,


October 30,




2023


2022










ASSETS
















Current assets:








Cash and cash equivalents


$

14,189


$

12,416


Trade accounts receivable, net



3,154



2,958


Inventory



1,898



1,925


Other current assets



1,606



1,205


Total current assets



20,847



18,504










Long-term assets:








Property, plant and equipment, net



2,154



2,223


Goodwill



43,653



43,614


Intangible assets, net



3,867



7,111


Other long-term assets



2,340



1,797


Total assets


$

72,861


$

73,249


















LIABILITIES AND EQUITY
















Current liabilities:








Accounts payable


$

1,210


$

998


Employee compensation and benefits



935



1,202


Current portion of long-term debt



1,608



440


Other current liabilities



3,652



4,412


Total current liabilities



7,405



7,052










Long-term liabilities:








Long-term debt



37,621



39,075


Other long-term liabilities



3,847



4,413


Total liabilities



48,873



50,540










Stockholders' equity:








Preferred stock



-



-


Common stock



-



-


Additional paid-in capital



21,099



21,159


Retained earnings



2,682



1,604


Accumulated other comprehensive income (loss)



207



(54)


Total stockholders' equity



23,988



22,709


  Total liabilities and equity


$

72,861


$

73,249


 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)



















Fiscal Quarter Ended


Fiscal Year Ended



October 29,


July 30,


October 30,


October 29,


October 30,



2023


2023


2022


2023


2022

Cash flows from operating activities:
















Net income


$

3,524


$

3,303


$

3,359


$

14,082


$

11,495

Adjustments to reconcile net income to net cash provided by operating activities:















Amortization of intangible and right-of-use assets



808



810



1,087



3,333



4,455

Depreciation



124



122



129



502



529

Stock-based compensation



638



629



387



2,171



1,533

Deferred taxes and other non-cash taxes



639



(251)



(89)



(501)



(34)

Loss on debt extinguishment



-



-



-



-



100

Non-cash interest expense



34



33



32



132



129

Other



27



-



31



9



183

Changes in assets and liabilities, net of acquisitions and disposals:
















  Trade accounts receivable, net



(231)



135



(241)



(187)



(870)

  Inventory



(56)



44



(87)



27



(627)

  Accounts payable



215



188



304



209



(79)

  Employee compensation and benefits



103



184



128



(279)



136

  Other current assets and current liabilities



(694)



(339)



(388)



(628)



222

  Other long-term assets and long-term liabilities



(303)



(139)



(69)



(785)



(436)

Net cash provided by operating activities



4,828



4,719



4,583



18,085



16,736

















Cash flows from investing activities:
















Acquisitions of businesses, net of cash acquired



(36)



(17)



(7)



(53)



(246)

Purchases of property, plant and equipment



(105)



(122)



(122)



(452)



(424)

Purchases of investments



(58)



(91)



-



(346)



(200)

Sales of investments



154



74



-



228



200

Other



(79)



12



1



(66)



3

Net cash used in investing activities



(124)



(144)



(128)



(689)



(667)

















Cash flows from financing activities:
















Proceeds from long-term borrowings



-



-



-



-



1,935

Payments on debt obligations



(143)



-



(9)



(403)



(2,361)

Payments of dividends



(1,904)



(1,901)



(1,782)



(7,645)



(7,032)

Repurchases of common stock - repurchase program



(123)



(1,707)



-



(5,824)



(7,000)

Shares repurchased for tax withholdings on vesting of equity awards



(454)



(460)



(274)



(1,861)



(1,455)

Issuance of common stock



59



-



54



122



114

Other



(5)



(5)



(5)



(12)



(17)

Net cash used in financing activities



(2,570)



(4,073)



(2,016)



(15,623)



(15,816)

















Net change in cash and cash equivalents



2,134



502



2,439



1,773



253

Cash and cash equivalents at beginning of period



12,055



11,553



9,977



12,416



12,163

Cash and cash equivalents at end of period


$

14,189


$

12,055


$

12,416


$

14,189


$

12,416

















Supplemental disclosure of cash flow information:
















Cash paid for interest


$

397


$

348


$

397


$

1,503


$

1,386

Cash paid for income taxes


$

191


$

427


$

251


$

1,782


$

908

 

Cision View original content:https://www.prnewswire.com/news-releases/broadcom-inc-announces-fourth-quarter-and-fiscal-year-2023-financial-results-and-quarterly-dividend-302009464.html

SOURCE Broadcom Inc.

Copyright 2023 PR Newswire

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