Broadcom Shares Hit All-Time High

<p><strong>PALO ALTO<&sol;strong> &&num;8212&semi; Broadcom shares hit another all-time high Friday&comma; climbing &dollar;56&period;05 to close at &dollar;1&comma;735&period;04&period; The company soared after reporting second quarter results and a 10-for-1 stock split&period;<&sol;p>&NewLine;<p>For the fiscal second quarter&comma; Broadcom reported revenue of &dollar;12&period;487 billion for the second quarter&comma; up 43 percent from the prior year period&period; Net income was &dollar;2&period;12 billion for the quarter&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Broadcom&&num;8217&semi;s second quarter results were once again driven by AI demand and VMware&period; Revenue from our AI products was a record &dollar;3&period;1 billion during the quarter&period; Infrastructure software revenue accelerated as more enterprises adopted the VMware software stack to build their own private clouds&comma;&&num;8221&semi; said Hock Tan&comma; President and CEO of Broadcom Inc&period; &&num;8220&semi;We are raising our fiscal year 2024 guidance for consolidated revenue to &dollar;51 billion and adjusted EBITDA to 61&percnt; of revenue&period;&&num;8221&semi; <&sol;p>&NewLine;<p>&&num;8220&semi;Consolidated revenue grew 43&percnt; year-over-year to &dollar;12&period;5 billion&comma; including the contribution from VMware&comma; and was up 12&percnt; year-over-year&comma; excluding VMware&period; Adjusted EBITDA increased 31&percnt; year-over-year to &dollar;7&period;4 billion&comma;&&num;8221&semi; said Kirsten Spears&comma; CFO of Broadcom Inc&period; &&num;8220&semi;Free cash flow&comma; excluding restructuring and integration in the quarter&comma; was &dollar;5&period;3 billion&comma; up 18&percnt; year-over-year&period; Today we are announcing a ten-for-one forward stock split of Broadcom&&num;8217&semi;s common stock&comma; to make ownership of Broadcom stock more accessible to investors and employees&period;&&num;8221&semi;<&sol;p>&NewLine;<p>The ten-for-one forward stock split will be effected through the filing of an amendment to Broadcom&&num;8217&semi;s Amended and Restated Certificate of Incorporation that will proportionately increase the authorized shares of common stock&period; Our stockholders of record after the close of market on July 11&comma; 2024 will receive an additional nine shares of common stock for each share held after the close of market on July 12&comma; 2024&period; <&sol;p>&NewLine;<p><&excl;-- TradingView Widget BEGIN --><&sol;p>&NewLine;<div class&equals;"tradingview-widget-container">&NewLine;<div class&equals;"tradingview-widget-container&lowbar;&lowbar;widget"><&sol;div>&NewLine;<div class&equals;"tradingview-widget-copyright"><a href&equals;"https&colon;&sol;&sol;www&period;tradingview&period;com&sol;" rel&equals;"noopener nofollow" target&equals;"&lowbar;blank"><span class&equals;"blue-text">Track all markets on TradingView<&sol;span><&sol;a><&sol;div>&NewLine;<p> <script type&equals;"text&sol;javascript" src&equals;"https&colon;&sol;&sol;s3&period;tradingview&period;com&sol;external-embedding&sol;embed-widget-symbol-info&period;js" async>&NewLine; &lbrace;&NewLine; "symbol"&colon; "NASDAQ&colon;AVGO"&comma;&NewLine; "width"&colon; 550&comma;&NewLine; "locale"&colon; "en"&comma;&NewLine; "colorTheme"&colon; "light"&comma;&NewLine; "isTransparent"&colon; false&NewLine;&rcub;&NewLine; <&sol;script>&NewLine;<&sol;div>&NewLine;<p><&excl;-- TradingView Widget END --><&sol;p>&NewLine;