Citing strong sales in networking and server storage segments, Broadcom reported revenue of $8.103 billion for its second quarter of fiscal year 2022, ended May 1, 2022, up 23% over the same period last year. Net income increased to $2.590 billion, compared to $1.493 billion a year ago.
"Broadcom's second quarter revenue accelerated sequentially, and was driven by strength in networking and server storage," said Hock Tan, President and CEO of Broadcom Inc. "We expect this momentum to continue into the third quarter."
"Consolidated revenue grew 23% year-over-year to a record $8.1 billion and operating profit increased 30%," said Kirsten Spears, CFO of Broadcom Inc. "We generated $4.2 billion in free cash flow and are expecting free cash flow to remain strong in the third quarter. Consistent with our commitment to return excess cash to shareholders, we returned $4.5 billion to shareholders in the quarter including $1.7 billion of cash dividends and $2.8 billion of share repurchases."
