Today in 3 minutes or less:

1. Broadcom Inc. Reports Strong Q2 FY 2024 Financial Results and Announces Stock Split ($AVGO)

2. Pixel June Feature Drop: New AI Tools and Enhanced Safety for Phones, Watches, and Tablets ($GOOG)

3. Interview of the day: Zscaler CEO discusses Q3 earnings, cybersecurity demand ($ZS)

4. ESG Screener: Amazon's Strategic Use of Solar Energy, Batteries, and AI to Decarbonize the Grid (AMZN)

1. Broadcom Inc. Reports Strong Q2 FY 2024 Financial Results and Announces Stock Split ($AVGO)

Broadcom Inc. reports robust Q2 FY 2024 results, including a significant revenue increase and a ten-for-one stock split.

• Revenue Growth: Broadcom's Q2 revenue rose by 43% year-over-year, reaching $12.5 billion.

• Net Income and EPS: GAAP net income for Q2 was $2.1 billion, with non-GAAP net income at $5.4 billion; GAAP diluted EPS was $4.42, while non-GAAP diluted EPS was $10.96.

• Cash Flow and Dividend: Broadcom generated $4.58 billion in cash from operations, resulting in $4.45 billion of free cash flow; declared a quarterly dividend of $5.25 per share.

• Stock Split Announcement: Broadcom announced a ten-for-one forward stock split, effective July 15, 2024.

Company Guidance:

• Annual Revenue Guidance: Fiscal 2024 revenue is projected at approximately $51.0 billion, a 42% increase from the prior year.

• Adjusted EBITDA Guidance: Fiscal 2024 adjusted EBITDA is expected to be approximately 61% of projected revenue.

Source: Broadcom Inc.

2. Pixel June Feature Drop: New AI Tools and Enhanced Safety for Phones, Watches, and Tablets ($GOOG)

• Gemini Nano Expansion: The efficient AI model Gemini Nano is now available on Pixel 8 and 8a as a developer option, improving on-device tasks.

• Car Crash Detection: Pixel Watch 2 now features Car Crash Detection, providing automatic emergency services dialing and location sharing.

• Find My Device Upgrade: Enhanced Find My Device allows locating phones even when they're off or the battery is dead, maintaining privacy.

• New Google Wallet and Home App Features: Expanded Google Wallet access in India and improved Google Home app functionality for seamless smart home control from Pixel Watches and Tablets.

Source: Google

3. Interview of the day: Zscaler CEO discusses Q3 earnings, cybersecurity demand ($ZS)

4. ESG Screener: Amazon's Strategic Use of Solar Energy, Batteries, and AI to Decarbonize the Grid (AMZN)

• Extensive Solar-Plus-Storage Projects: Amazon (AMZN) has enabled the development of 10 solar energy projects with nearly 1.5 GW of battery storage capacity, ensuring renewable energy availability even when the sun isn't shining.

• AI Optimization: AI and machine learning (ML) models powered by AWS optimize battery performance, predicting when to charge and discharge to maintain a steady energy supply.

• Global Renewable Energy Leadership: Amazon is the world's largest corporate purchaser of renewable energy for the fourth consecutive year, with over 500 projects powering 7.2 million U.S. homes annually.

• Innovative AI Applications: AI at Baldy Mesa and other sites helps predict energy needs and optimize storage, demonstrating the potential for AI to enhance renewable energy deployment across the energy sector.

Source: Amazon.com, Inc.

Short updates on your favorite stocks & markets

• Apple supplier TDK claims solid-state battery breakthrough. FT

• Tesco says shoppers are buying more as confidence returns. BBC

• Activist Starboard amasses Autodesk stake, weighs suit over delayed probe disclosure. CNBC

• Pixar's Inside Out 2 sees record opening weekend. BBC

• Robotics startup cofounded by Synapse CEO is raising funds with exaggerated claims about GM ties. CNBC

• Deutsche Bank Buys €1.7 Billion Aviation Loans from NordLB - Bloomberg

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