Broadcom Limited (NASDAQ: AVGO) reported fiscal fourth-quarter financial results after markets closed on Thursday. The company said that it had a net loss of $1.59 per share and $4.14 billion in revenue. Thomson Reuters did not have estimates readily available at this time. The same period from last year had $1.49 in earnings per share (EPS) and $1.84 billion in revenue.
One of the major highlights to come is that the quarterly interim dividend for the fiscal first quarter will double to $1.02 per share from $0.51 in this current quarter. The dividend will be payable on December 30, for shareholders on record as of December 16.
Gross margin was 52.5% of net revenue. This compares with gross margin of 47.0%, in the prior quarter, and gross margin of 54.2% in the same quarter last year.
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In terms of the outlook for the fiscal first quarter, the company expects to have net revenues of $4.075 billion, give or take $75 million, with a gross margin in the range of 46% to 48%.
During the fourth quarter, the company generated $1.35 billion in cash from operations and received $200 million in net cash proceeds from the completion of divestitures. On the books, cash and cash equivalents at the end of the fourth fiscal quarter totaled $3.10 billion, compared to $1.96 billion at the end of the prior quarter.
Shares of Broadcom closed Thursday up 1% at $170.71, with a consensus analyst price target of $55.78 and a 52-week trading range of $114.25 to $179.42. Following the release of the earnings report, the stock was initially up about 3% at $175.50 in the after-hours trading session.
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