Broadcom Inc. Q1 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview
  • Record consolidated revenue of $7.7B, up 16% year-over-year (YoY).
  • Semiconductor Solutions revenue grew 20% YoY to $5.9B.
  • Infrastructure Software revenue rose 5% YoY to $1.8B.
  • Strong enterprise IT recovery and hyperscale datacenter upgrades drove growth.
  • Backlog continued growing double digits from prior quarter; lead times steady at ~50 weeks.
Semiconductor Segment Performance
  • Networking revenue: $1.9B, up 33% YoY. Driven by Tomahawk 4, compute offload solutions, and expanding Ethernet-based AI/ML cluster networks.
  • Server Storage Connectivity: $801M, up 32% YoY. Continued enterprise server upgrades and increased Nearline HDD demand. Q2 expected to accelerate to >55% YoY.
  • Broadband: $911M, up 23% YoY. Strong deployments of next-gen PON and DOCSIS, plus Wi‑Fi 6/6E adoption. Q2 expected to grow 20% YoY.
  • Wireless: $2B, up 4% YoY despite being compared to prior-year peak. Q2 expected seasonally down mid-teens QoQ but up mid-single digits YoY.
  • Industrial: $243M, representing 4% of semiconductor revenue. Resales grew 37% YoY; demand strong in EVs, automation, healthcare.
  • Overall semiconductor revenue expected to accelerate to 25% YoY in Q2 (35% excluding wireless).
Infrastructure Software Segment
  • Revenue: $1.8B, up 5% YoY.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Welcome to Broadcom Inc.’s First Quarter Fiscal Year 2022 Financial Results Conference Call. At this time, for opening remarks and introductions, I would like to turn the call over to Ji Yoo, Director of Investor Relations of Broadcom Inc. Ji Yoo: Thank you, Sheri, and good afternoon, everyone. Joining me on today’s call are Hock Tan, President and CEO; Kirsten Spears, Chief Financial Officer; Tom Krause, President, Broadcom Software Group; and Charlie Kawwas, Chief Operating Officer. Broadcom also distributed a press release and financial tables after the market close describing our financial performance for the first quarter fiscal year 2022. If you did not receive a copy, you may obtain the information from the Investors section of Broadcom’s website at broadcom.com. This conference call is being webcast live, and a recording will be available via telephone playback for one week. It will also be archived in the Investors section of our website at broadcom.com. During the prepared comments, Hock and Kirsten will be providing details of our first quarter fiscal year 2022 results, guidance for our second quarter as well as commentary regarding the business environment. We’ll take questions after the end of our prepared comments. Please refer to our press release today and our recent filings with the SEC for information on the specific risk factors that could cause our actual results to differ materially from the forward-looking statements made on this call. In addit

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional