Q: What is Broadcom (AVGO) Q3 2024 Earnings Call Transcript Summary?
**Broadcom (AVGO) Q3 2024 Earnings Call Summary**
Here are the specific viewpoints from the earnings call:
**Bullish Points:**
1. Consolidated net revenue of $13.1 billion was up 47% year on year.
2. Operating profit was up 44% year on year.
3. AI revenue continues to grow strongly.
4. VMware bookings continue to accelerate.
5. Infrastructure software segment revenue of $5.8 billion was up 200% year on year.
6. Networking Q3 revenue of $4 billion grew 43% year on year.
7. Custom AI accelerators grew three and a half times year on year.
8. Expect total networking revenue to grow over 40% year on year in Q4.
9. Guiding Q4 consolidated revenue to be approximately $14 billion, up 51% year on year.
10. Free cash flows of $5.3 billion were up 14% year on year and represented 41% of revenue.
**Bearish Points:**
1. Non-AI networking was down 41% year on year.
2. Q3 server storage connectivity revenue was down 25% year on year.
3. Broadband revenue declined 49% year on year.
4. Expect broadband to continue to be down over 40% year on year in Q4.
5. Q3 industrial resales declined 31% year on year.
6. Expect Q4 industrial resales to be down approximately 20% year on year.
7. Gross margins for semiconductor solutions segment were down 270 basis points year on year.
8. Free cash flow as a percentage of revenue has declined from the same quarter a year ago.
9. Higher cash interest expense from debt related to the VMware acquisition.
10. Higher cash taxes due to a higher mix of U.S. income and the continued delay in the reenactment of Section 174.
For more information about Broadcom's earnings call, you can read the relevant news: Broadcom (AVGO) Q3 2024 Earnings Call Transcript
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