Broadcom Inc AVGO reported first-quarter financial results after the market close on Thursday. Here’s a look at the key metrics from the quarter.

Q1 Earnings: Broadcom reported first-quarter revenue of $14.92 billion, beating analyst estimates of $14.61 billion, according to Benzinga Pro. The semiconductor company reported first-quarter adjusted earnings of $1.60 per share, beating analyst estimates of $1.49 per share.

Total revenue was up 25% on a year-over-year basis, driven by strength in AI semiconductor solutions and infrastructure software. Broadcom generated $6.11 billion in cash from operations and $6.01 billion in free cash flow during the quarter. The company ended the quarter with approximately $9.31 billion in cash and cash equivalents.

“Q1 AI revenue grew 77% year-over-year to $4.1 billion and infrastructure software revenue grew 47% year-over-year to $6.7 billion,” said Hock Tan, president and CEO of Broadcom.

“We expect continued strength in AI semiconductor revenue of $4.4 billion in Q2, as hyperscale partners continue to invest in AI XPUs and connectivity solutions for AI data centers.”

Broadcom’s board approved a quarterly cash dividend of 59 cents per share, payable on March 31 to shareholders of record as of March 20.

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Outlook: Broadcom expects second-quarter revenue of approximately $14.9 billion, versus estimates of $14.76 billion. The company anticipates first-quarter adjusted EBITDA of approximately 66% of projected revenue.

Broadcom executives will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET.

AVGO Price Action: Broadcom shares were up 8.73% after hours, trading at $195.11 at the time of publication Thursday, according to Benzinga Pro.

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