Broadcom: Fiscal 2Q23 Financial Results

(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
1FQ23	1,300
2FQ23	1,100

Earnings call transcript