Broadcom has increased its quarterly dividend after reporting record profits for its fiscal fourth quarter, with results boosted by continued demand for cloud networking and broadband, as well as a strong ramp up in wireless. The company will distribute a dividend of USD 3.60, up by 11 percent, and added added that revenues in the next quarter should again go up, by 13 percent year-on-year.
The company also announced the appointments of some new executives. Kirsten Spears, the company’s corporate controller and principal accounting officer, will become its CFO. She will replace Tom Krause, who has been named president of the new Infrastructure Software Group, overseeing the company’s six software divisions as well as software sales, customer support and software operations. Finally, Charlie Kawwas, currently chief sales officer, will become Broadcom’s COO. He will continued as well to be responsible of sales for the Semiconductor and Brocade Storage Networking businesses, and corporate marketing for the whole company.
Revenues for fiscal Q4r rose 12 percent from the year before to USD 6.467 billion while the net profit jumped to USD 1.324 billion from 847 million, putting earnings per share at USD 2.93 from 1.97. The adjusted EBITDA increased to USD 3.827 billion, the operating cash flow advanced to USD 3.348 billion from 2.479 billion, and the free cash flow went higher to USD 3.246 billion from 2.383 billion. Both Semiconductor Solutions and Infrastructure Software lifted revenues, to USD 4.830 billion from 4.576 billion, and to USD 1.467 billion from 1.200 billion, respectively.
The company ended the quarter with USD 7.618 billion in cash, a bit less than the 8.857 billion recorded at the end of fiscal Q3, and spent USD 102 million on capex.
Looking ahead to its fiscal first quarter, the company is guiding for revenues of USD 6.6 billion and an adjusted EBITDA of USD 3.9 billion.
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