Summary by Moomoo AI
Broadcom announced its annual performance for the year ending December 31, 2024. During the period, total revenue grew by 3.3% year-on-year to RMB 2.917 billion, but net profit decreased by 49.7% to RMB 15.61 million. Basic earnings per share were 1.63 cents, and the Board of Directors did not recommend the payment of a final dividend.The revenue growth was mainly benefited from the significant increase of 70% in sales of Internet of Things (IoT) related products to RMB 0.823 billion, while revenue from the mobile business declined by 11.4% to RMB 1.894 billion. The gross margin dropped from 10.6% in the same period last year to 8.8%, mainly due to the company's strategy of reducing gross margin to ensure securing key customer Orders.The company is actively exploring new...Show More
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