Broadcom posted net revenue of $5.063 billion for its third quarter of fiscal year 2018, ended August 5, 2018,, an increase of 1 percent from $5.014 billion in the previous quarter and an increase of 13 percent from $4,463 million in the same quarter last year. Gross margin was $2,619 million, or 51.7 percent of net revenue. Net income, which includes the impact of discontinued operations, was $1,196 million, or $2.71 per diluted share. This compares with net income of $3,733 million, or $8.33 per diluted share, in the prior quarter, and net income of $507 million, or $1.14 per diluted share, in the same quarter last year. GAAP net income, which includes the impact of discontinued operations, was $1.196 billion, or $2.71 per diluted share.
“Datacenter demand is driving strong growth in more than 50 percent of our consolidated revenue,” said Hock Tan, President and CEO of Broadcom Inc. “Through the strength of our franchise business model, we delivered another quarter of sustained revenues and strong free cash flows.”
Broadcom stated that its pending merger with CA Technologies is on track for completion during the present quarter.
