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Emoji happyBroadcom: Fiscal 2Q23 Financial Results

Server storage connectivity revenue at $1.1 billion up 20% Y/Y and down 15% Q/Q

(in $ million) 2Q22 2Q23 6 mo. 22 6 mo. 23
Revenue 8,103 8,733 15,809 17,648
Growth   8%   12%
Net income (loss) 2,590 3,481 4,913 7,255

Broadcom Inc. reported financial results for its second quarter of fiscal year 2023, ended April 30, 2023.

Global revenue reached $8,733 million for this quarter, up 8% from 2FQ22.

Part of company’s business, server storage connectivity saw revenue at $1.1 billion or 17% of semiconductor activity, and up 20% Y/Y and down 15% Q/Q. It represents around 13% of global sales.

For the former quarter, the figure was a record $1.3 billion or 18% of semiconductor revenue and up 57% Y/Y. At this time, the firm expected that, in 2FQ23, server storage connectivity revenue will moderate toward 20% Y/Y growth, and it was excellent expectation.

And as noted last quarter, with the transition to next-gen MegaRAID largely completed and enterprise demand moderating, the company expects server storage connectivity revenue in 3FQ23 to be up low single digits Y/Y.

Revenue for storage connectivity
(in $million)

Period Sales
4FQ11 815
1FQ22 801
2FQ22 939
3FQ22 1,100
4FQ22 1,200
FY22 4,240

Earnings call transcript