Broadcom (NASDAQ: AVGO) reported Q2 EPS of $5.14, in-line with the analyst estimate of $5.14. Revenue for the quarter came in at $5.74 billion versus the consensus estimate of $5.69 billion.

• Revenue of $5,742 million
• GAAP net income of $563 million
• Adjusted EBITDA of $3,209 million
• GAAP diluted EPS of $1.17
• Non-GAAP diluted EPS of $5.14 -- $3,065 million of free cash flow from operations, defined as cash from operations of $3,213 million less capital expenditures of $148 million
• Quarterly common stock dividend of $3.25 per share
• Third quarter revenue guidance of $5.75 billion plus or minus $150 million
• Third quarter Adjusted EBITDA guidance of $3,220 million plus or minus $75 million, or 56% of revenue at the midpoint of guidance(1)

"Second quarter results were in-line with our expectations, and saw limited impact from the effects of COVID-19," said Hock Tan, President and CEO of Broadcom Inc. "Looking ahead, our third quarter guidance for semiconductors reflects a surge in demand from cloud, telecom and enterprise customers, offset by supply chain constraints and an expected substantial reset in wireless. We remain focused on investing in our diverse set of mission critical semiconductor and software franchises, while carefully managing our expenses in this uncertain environment."

"We generated record quarterly free cash flow of over $3 billion and reinforced our balance sheet, ending the quarter with over $9 billion of cash," said Tom Krause, CFO of Broadcom Inc. "Given our strong free cash flow generation, healthy balance sheet and enhanced liquidity position, we remain committed to maintaining our dividend while we navigate these unprecedented times."

GUIDANCE:

Broadcom sees Q3 2020 revenue of $5.6-5.9 billion, versus the consensus of $5.79 billion.

For earnings history and earnings-related data on Broadcom (AVGO) click here.