(AOF) – Broadcom gains 0.13% to 923.46 dollars the day after a mixed quarterly publication. If the profits of the group present in semiconductors and software exceeded expectations, revenues came out a little short. “Revenue from semiconductors used in artificial intelligence systems now represents 15% of the company’s total chip sales, and this share will increase to more than 25% in fiscal 2024,” said CEO Hock Tan during the conference call with analysts.
In the fourth quarter, ended at the end of October, the group made a net profit of $3.52 billion, or $8.25 per share, compared with a net profit of $3.36 billion, or $7.83 per share, a year earlier. Excluding exceptional items, earnings per share reached $11.06, compared to the consensus of $10.98. Broadcom’s sales increased by 4% to 9.295 billion dollars while the market was targeting 9.41 billion.
For the 2024 financial year, the technology group is targeting turnover of around $50 billion, higher than Wall Street’s expectations: $45.76 billion. This objective includes VMware, whose acquisition has been finalized and which will contribute $12 billion to this objective.
“We expect the integration to take about a year and require nearly $1 billion in spending, most of which will be done at the end of fiscal 2024,” CEO Hock Tan said.
Finally, the company announced a 14% increase in the quarterly dividend from the previous quarter to $5.25.
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