Broadcom Inc ( AVGO ) reported third-quarter financial results after the market close on Thursday. Here's a look at the key metrics from the quarter.

Q3 Earnings: Broadcom ( AVGO ) reported second-quarter revenue of $13.072 billion, beating analyst estimates of $12.96 billion, according to Benzinga Pro. The semiconductor company reported second-quarter earnings of $1.24 per share, beating analyst estimates of $1.20 per share.

Total revenue was up 42% on a year-over-year basis. Broadcom ( AVGO ) generated $4.963 billion in cash from operations and $4.791 billion in free cash flow during the quarter. The company ended the quarter with $9.952 billion in cash and cash equivalents.

“Broadcom’s third-quarter results reflect continued strength in our AI semiconductor solutions and VMware. We expect revenue from AI to be $12 billion for fiscal year 2024 driven by Ethernet networking and custom accelerators for AI data centers,” said Hock Tan, president and CEO of Broadcom ( AVGO ).

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Broadcom’s board approved a quarterly cash dividend of 53 cents per share, payable on Sept. 30 to shareholders of record as of Sept. 19.

What’s Next: Broadcom ( AVGO ) expects fourth-quarter revenue of approximately $14 billion. The company anticipates fourth-quarter adjusted EBITDA of approximately 64% of projected revenue.

Broadcom ( AVGO ) management will hold a conference call to discuss the company’s quarterly results at 5 p.m. ET.

AVGO Price Action: Broadcom ( AVGO ) shares were down 3.97% after hours, trading at $146.75 at the time of publication Thursday, according to Benzinga Pro.

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