Broadcom: Fiscal 3Q23 Financial Results

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

Consolidated revenue for 3FQ23 grew 5% Y/Y to $8.9 billion, up 5% from 3FQ22.

Semiconductor solutions revenue increased 5% Y/Y to $6.9 billion and infrastructure software grew 5% Y/Y to $1.9 billion. Hyperscale continued to grow double-digits Y/Y, but enterprise and telco spending moderated. Meanwhile, virtually defying gravity, our wireless business has remained stable.

One of its business is server storage connectivity with the following products:

• storage adapters, controllers, and ICs
• Brocade FC networking, and
• PCIe switches and bridges

In this segment, Broadcom recorded $1.1 million sales in 3FQ23, figure perfectly flat at $1.1 million, being the same last quarter and last year.

This activity represents 12% of global sales of the company.

The firm expects server storage connectivity revenue in 4FQ23 to be down mid-teens percent Y/Y.

Revenue for storage connectivity
(in $million)

Earnings call transcript