Broadcom Reports Q4 2024 Financials and Declares Dividend

Broadcom Inc. reported a 51% increase in fourth-quarter revenue to $14.054 billion, driven by strong semiconductor and AI revenue growth. The company achieved a GAAP net income of $4.324 billion and a non-GAAP net income of $6.965 billion. Broadcom also announced an 11% increase in its quarterly dividend to $0.59 per share. For fiscal year 2024, revenue grew 44% to $51.6 billion, with significant contributions from infrastructure software and AI sectors. The company provided a positive outlook for the first quarter of fiscal year 2025, projecting revenue of approximately $14.6 billion.