Latest news with #Hock
Yahoo
31-03-2025
- Business
- Yahoo
MakeMyMove initiative sparks national interest in Central Indiana
In 2020, a group of Indianapolis-based economic development professionals decided to try something different. Rather than attracting businesses to the community, why not attract individuals, specifically remote workers, to the community? 'We're in 17 states right now and Indiana is the first in the nation to have a statewide recruitment program,' MakeMyMove COO Evan Hock said. 'With 34 local programs across the state, all of it is sponsored by Indianan Economic Development funds.' Those interested in moving to Indiana can apply on the MakeMyMove website and receive thousands of dollars in incentives. Communities set up their own incentive programs. 'Noblesville, for example, has $15,000 in cash and amenities, including memberships to the Chamber and the local co-working space," Hock said. "You can pick your spot based on the region and the program they offer.' Zionsville is participating. So is Muncie, Greenwood and everywhere in between. The incentives are meant to help movers get involved and explore the community they've chosen. The closer they are to Indianapolis, options like tickets to racing events, sporting events and more are available. Participants must be moving in from out of state and they must bring a remote job with them. The organization's goal is to recruit 50 new households by the end of May 2025 and Hock said they are 10 percent of the way there with many more in the pipeline of the application process. Central Indiana has proven to be an attractive option. According to Payscale, housing in Indianapolis is 22% lower than the national average and the cost of living is 10% less. 'The first mover we had came to McCordsville. They were able to get a home with more space and a different pace of life. It's whatever suits your preference,' Hock said. 'It's a new way for communities to grow and we're continuing to scale up the program.' It's a win-win for everyone, according to Hock. Not only are there incentives for families moving in, but it's also a great opportunity for the economic vitality of the community. 'We have a software engineer from Silicon Valley come to Indy and they're bringing that spending power with them," Hock said. "Remote workers are free agents and they are coming in from California, Texas and Florida looking for affordability and community connections. They're finding that in places like Zionsville and Lebanon.' For more information on the program, visit the website at
Yahoo
07-03-2025
- Business
- Yahoo
Broadcom Inc (AVGO) Q1 2025 Earnings Call Highlights: Record Revenue and AI Growth Propel ...
Total Revenue: $19 billion, up 25% year on year. Adjusted EBITDA: $10.1 billion, up 41% year on year. Semiconductor Revenue: $8.2 billion, up 11% year on year. AI Revenue: $4.1 billion, up 77% year on year. Infrastructure Software Revenue: $6.7 billion, up 47% year on year. Gross Margin: 79.1% of revenue. Operating Income: $9.8 billion, up 44% year on year. Operating Margin: 66% of revenue. Free Cash Flow: $6 billion, representing 40% of revenue. Capital Expenditures: $100 million. Cash and Debt: $9.3 billion in cash and $68.8 billion in gross principal debt. Dividends Paid: $2.8 billion in cash dividends. Share Repurchase: $2 billion to repurchase 8.7 million shares. Q2 Revenue Guidance: $14.9 billion, up 19% year on year. Q2 AI Revenue Guidance: $4.4 billion, up 44% year on year. Q2 Infrastructure Software Revenue Guidance: $6.5 billion, up 23% year on year. Warning! GuruFocus has detected 6 Warning Signs with DOMO. Release Date: March 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Broadcom Inc (NASDAQ:AVGO) reported a record total revenue of $19 billion for fiscal Q1 2025, up 25% year on year. AI revenue reached $4.1 billion, up 77% year on year, surpassing the guidance of $3.8 billion. The company is making significant R&D investments in AI, including the development of the industry's first 2-nanometer AI XPU. Infrastructure software revenue grew by 47% year on year, driven by the integration of VMware and the shift to subscription-based models. Broadcom Inc (NASDAQ:AVGO) is expanding its customer base, with four additional hyperscalers engaged in developing custom AI accelerators. Non-AI semiconductor revenue was down 9% sequentially due to a seasonal decline in wireless. Enterprise networking remains flat as customers work through channel inventory. Industrial sales were down double digits in Q1 and are expected to decline further in Q2. Free cash flow as a percentage of revenue is impacted by cash interest expenses and cash taxes. Concerns about geopolitical tensions and potential regulatory impacts on AI diffusion rules could pose risks to future operations. Q: Hock, you talked about four more customers coming online. Can you elaborate on the trend you're seeing? Can any of these customers be as significant as the current three? A: Hock Tan, President and CEO: These four are not yet customers as we define it. We enable hyperscalers to create compute systems, and it takes time to develop the software to make it work. There's no reason these four won't create demand similar to the first three, but it will likely happen later. Q: Can you provide more color on the second-half AI profile, especially with the new 3-nanometer AI accelerator programs ramping? A: Hock Tan, President and CEO: We are seeing improved networking shipments and some pull-ins of shipments. However, I won't speculate on the second half beyond what we've guided. Q: Are you seeing disruptions from tariffs or other dynamics, and how might this impact Broadcom's growth? A: Hock Tan, President and CEO: It's too early to tell about tariffs, but generative AI is accelerating semiconductor technology development. We're seeing innovation in higher performance accelerators and networking functionality. Q: How do you view the conversion from design wins to deployment, especially with the new XPU engagements? A: Hock Tan, President and CEO: We define design wins as products produced at scale and deployed in production. It takes time from taping out to scale production, and we focus on partners who need large volumes. Q: Is there any concern about new regulations impacting your AI design wins or shipments? A: Hock Tan, President and CEO: In this era of geopolitical tensions, there's always some concern, but we don't have any specific concerns about our current customers. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
