Broadcom records $6.61 billion in revenue for Q2, 2021, up 15% year-on-year
Published 4 June 2021
Broadcom Inc. (“Broadcom”), one of the world’s largest semiconductor manufacturers, reported a revenue of $6.61 billion for the second quarter of 2021.
The revenue beat analyst estimates of $6.59 billion and is a 15% year-on-year increase, according to data by Bloomberg.
Semiconductor revenue, at $4.82 million, also saw a 20% year-on-year increase due to the strength in demand for semiconductors across multiple end markets, revealed Broadcom President and CEO Hock Tan.
“Our third quarter outlook projects this year-over-year growth to sustain, as we continue to see strong demand from service providers and hypercloud,” he added.
On the other hand, infrastructure software reported $1.79 billion in revenue, a slight 4% year-on-year increase.
Broadcom’s wireless connectivity chips are used in Apple iPhones and a range of other smartphones, and its switch silicon and other custom designs are integral part of AWS and Google’s data centres, according to Bloomberg.
Kirsten Spears, CFO of Broadcom, also revealed that the company’s consolidated revenue grew 15% year-on-year, and operating profit grew 25% year-on-year.
“We generated $3.4 billion in free cash flow or 52% of revenue in the quarter, and are expecting free cash flow to remain strong in the third quarter,” she continued.