Broadcom
Q1 2023 Earnings Call
Mar 02, 2023, 5:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Welcome to Broadcom Inc.'s first quarter fiscal year 2023 financial results conference call. At this time, for opening remarks and introductions, I would like to turn the call over to Ji Yoo, head of investor relations of Broadcom Inc.
Ji Yoo -- Head of Investor Relations
Thank you, operator, and good afternoon, everyone. Joining me on today's call are Hock Tan, president and CEO; Kirsten Spears, chief financial officer; and Charlie Kawwas, president Semiconductor Solutions Group. Broadcom distributed a press release and financial tables after the market closed, describing our financial performance for the first quarter fiscal year 2023. If you did not receive a copy, you may obtain the information from the Investors section of Broadcom's website at broadcom.com.
This conference call is being webcast live and an audio replay of the call can be accessed for one year through the Investors section of Broadcom's website. During the prepared comments, Hock and Kirsten will be providing details of our first quarter fiscal year 2023 results, guidance for our second quarter, as well as commentary regarding the business environment. We'll take questions after the end of our prepared comments. Please refer to our press release today and our recent filings with the SEC for information on the specific risk factors that could cause our actual results to differ materially from the forward-looking statements made on this call.
In addition to U.S. GAAP reporting, Broadcom reports certain financial measures on a non-GAAP basis. A reconciliation between GAAP and non-GAAP measures is included in the tables attached to today's press release. Comments made during today's call will primarily refer to our non-GAAP financial results.
I'll now turn the call over to Hock.
Hock Tan -- President and Chief Executive Officer
Thank you, Ji, and thank you, everyone, for joining us today. In our fiscal Q1 '23, consolidated net revenue that was -- revenue was $8.9 billion, up 16% year on year. Semiconductor Solutions revenue increased 21% year on year to $7.1 billion. While as we expected, infrastructure software declined 1% year on year to $1.8 billion, even as our core software sustained growth of 5% year on year.
Stepping back, let me sum up what happened in Q1. From our view, infrastructure spending continues to be up particularly in service providers, even as hyperscale and enterprise sustain. Spending in technology for infrastructure has been strong, showing double-digit growth for nine consecutive quarters. We continue to be booked for fiscal '23 and our lead times and visibility on semiconductors remain largely at 50 weeks.