Broadcom(US:AVGO)2025-12-11 21:17Financial Performance - Q4 revenue reached $18.0 billion, a 28% increase year-over-year, primarily driven by a 74% increase in AI semiconductor revenue[3] - Fiscal year 2025 adjusted EBITDA rose 35% year-over-year to a record $43.0 billion, with free cash flow at $26.9 billion[3] - Q4 GAAP net income was $8.5 billion, up 97% from the prior year, while non-GAAP net income increased by 39% to $9.7 billion[4] - The company expects Q1 fiscal year 2026 revenue of approximately $19.1 billion, reflecting a 28% year-over-year increase[4] - Net revenue for the fiscal quarter ended November 2, 2025, was $18,015 million, a 13.3% increase from $15,952 million in the previous quarter[25] - Operating income for the quarter was $7,508 million, up 27.5% from $5,887 million in the previous quarter[25] - Income from continuing operations was $8,518 million, compared to $4,140 million in the previous quarter, marking a 105.7% increase[25] - Basic income per share from continuing operations was $1.80, significantly higher than $0.88 in the previous quarter[25] - Non-GAAP net income for the same quarter was $9.714 billion, up from $8.404 billion, reflecting a 15.5% year-over-year growth[29] - Adjusted EBITDA for the fiscal quarter was $12.218 billion, an increase from $10.702 billion, marking a 14.1% rise year-over-year[29] Cash Flow and Assets - Cash flow from operations for Q4 was $7.7 billion, resulting in free cash flow of $7.5 billion, or 41% of revenue[4] - The company’s cash and cash equivalents at the end of the fiscal quarter were $16.2 billion, compared to $10.7 billion at the end of the prior fiscal quarter[5] - Cash and cash equivalents increased to $16.178 billion as of November 2, 2025, compared to $9.348 billion a year earlier, showing a 73.2% increase[33] - Total current assets rose to $31.573 billion, up from $19.595 billion, indicating a 60.9% increase year-over-year[33] - Free cash flow for the fiscal quarter was $7.466 billion, compared to $7.024 billion in the previous year, reflecting a 6.3% increase[29] - Net cash provided by operating activities for the fiscal quarter was $7,703 million, compared to $7,166 million in the previous quarter, reflecting a 7.5% increase[35] - Cash and cash equivalents at the end of the period reached $16,178 million, up from $10,718 million at the beginning of the period[35] Expenses and Liabilities - Research and development expenses for the quarter were $2,981 million, slightly down from $3,050 million in the previous quarter[27] - Total operating expenses on a GAAP basis were $4,741 million, a decrease from $4,816 million in the previous quarter[27] - Stock-based compensation expense totaled $2,195 million for the quarter, down from $2,322 million in the previous quarter[27] - Long-term debt decreased to $61.984 billion from $66.295 billion, a reduction of 6.5%[33] - Payments on debt obligations were $3,638 million, down from $6,750 million in the previous quarter[35] - Cash paid for interest in the fiscal quarter was $699 million, an increase from $602 million in the previous quarter[35] - Cash paid for income taxes was $755 million, slightly down from $822 million in the previous quarter[35] Dividends and Shareholder Returns - The quarterly common stock dividend was increased by 10% to $0.65 per share, marking the fifteenth consecutive annual dividend increase since 2011[3] Other Notable Items - The company reported a one-time discrete non-cash tax benefit of $2.1 billion for the fiscal quarter ended November 2, 2025[30] - The company did not acquire any businesses during the fiscal quarter, maintaining a focus on organic growth[35] - The weighted-average shares used in diluted per share calculations on a non-GAAP basis was 4,969 million[30]