Published
## Filings that contain financial statements - **8-K filed September 2, 2026** (accession 0001730168-26-000076), Exhibit 99.1 — unaudited condensed consolidated statements of operations, balance sheets and cash flows for the fiscal quarter and three fiscal quarters ended August 2, 2026 (Q3 FY2026), with comparative periods ended May 3, 2026 and August 3, 2025. - **8-K filed June 3, 2026** (accession 0001730168-26-000051), Exhibit 99.1 — unaudited condensed consolidated financial statements for the fiscal quarter and two fiscal quarters ended May 3, 2026 (Q2 FY2026), with comparatives ended February 1, 2026 and May 4, 2025. - **8-K filed March 4, 2026** (accession 0001730168-26-000011), Exhibit 99.1 — unaudited condensed consolidated financial statements for the fiscal quarter ended February 1, 2026 (Q1 FY2026), with comparatives ended November 2, 2025 and February 2, 2025. - **8-K filed December 11, 2025** (accession 0001730168-25-000116), Exhibit 99.1 — unaudited condensed consolidated financial statements for the fourth quarter and full fiscal year ended November 2, 2025 (Q4/FY2025), with comparatives ended August 3, 2025, November 3, 2024, and fiscal year 2024. - **8-K filed September 10, 2025** (accession 0001193125-25-200108), Exhibit 99.1 — unaudited pro forma condensed combined financial information reflecting the VMware, Inc. merger for the fiscal year ended November 3, 2024. ## Earnings and guidance **Q3 FY2026 (reported September 2, 2026; accession 0001730168-26-000076).** Net revenue was $29,591 million, up 86% year-over-year; GAAP operating income was $15,955 million and non-GAAP operating income was $20,095 million; GAAP diluted EPS was $2.68 and non-GAAP diluted EPS was $3.32. AI semiconductor revenue was $16.7 billion, up 221% year-over-year. Cash from operations was $14,197 million and free cash flow was $13,665 million (46% of revenue). Cash and equivalents ended the quarter at $23,975 million. The company guided fourth-quarter FY2026 revenue to approximately $34.8 billion (up 93% year-over-year) and non-GAAP operating income to approximately 66% of revenue, and said it expects Q4 AI semiconductor revenue to reach $21.7 billion, up 236% year-over-year. **Q2 FY2026 (reported June 3, 2026; accession 0001730168-26-000051).** Net revenue was $22,187 million, up 48% year-over-year; GAAP net income was $9,310 million and non-GAAP net income was $12,074 million; GAAP diluted EPS was $1.91 and non-GAAP diluted EPS was $2.44; adjusted EBITDA was $15,244 million (69% of revenue). AI semiconductor revenue was $10.8 billion, up 143% year-over-year. Free cash flow was $10,262 million (46% of revenue). The company guided Q3 FY2026 revenue to approximately $29.4 billion and forecast AI semiconductor revenue growth of over 200% year-over-year to $16.0 billion. **Q1 FY2026 (reported March 4, 2026; accession 0001730168-26-000011).** Net revenue was $19,311 million, up 29% year-over-year; GAAP net income was $7,349 million and non-GAAP net income was $10,185 million; GAAP diluted EPS was $1.50 and non-GAAP diluted EPS was $2.05; adjusted EBITDA was $13,128 million (68% of revenue). AI revenue was $8.4 billion, up 106% year-over-year. The Board authorized a new share repurchase program of up to $10 billion of common stock through December 31, 2026. **Q4 and full-year FY2025 (reported December 11, 2025; accession 0001730168-25-000116).** Q4 revenue was $18,015 million, up 28% year-over-year; GAAP net income was $8,518 million and non-GAAP net income was $9,714 million; GAAP diluted EPS was $1.74 and non-GAAP diluted EPS was $1.95. Full fiscal year 2025 net revenue was $63,887 million, up 24% from FY2024's $51,574 million; GAAP net income was $23,126 million (up from $5,895 million in FY2024) and non-GAAP net income was $33,728 million; GAAP diluted EPS was $4.77 and non-GAAP diluted EPS was $6.82. Full-year adjusted EBITDA was $43,004 million, up 35% year-over-year, and free cash flow was $26,914 million. The Board raised the quarterly common stock dividend by 10% to $0.65 per share (a $2.60 annualized rate), the fifteenth consecutive annual dividend increase since dividends began in fiscal 2011. ## Quarterly dividends Broadcom declared a $0.65 per-share quarterly cash dividend in connection with each quarterly earnings release during the period: December 11, 2025 (accession 0001730168-25-000116, paid December 31, 2025), March 4, 2026 (accession 0001730168-26-000011, paid March 31, 2026), June 3, 2026 (accession 0001730168-26-000051, paid June 30, 2026), and September 2, 2026 (accession 0001730168-26-000076, payable September 30, 2026 to holders of record September 21, 2026). The December 2025 declaration raised the payout 10% from the prior $0.59 per share. ## Debt issuance and redemptions **January 2026 senior notes offering (accession 0001193125-26-011731).** On January 6, 2026, Broadcom entered into an underwriting agreement to issue $4.5 billion aggregate principal amount of senior notes in four tranches: $750 million of 4.300% notes due 2031, $1.25 billion of 4.600% notes due 2033, $1.25 billion of 4.950% notes due 2036, and $1.25 billion of 5.700% notes due 2056. The notes settled January 13, 2026 under a new supplemental indenture. Proceeds were designated for general corporate purposes and debt repayment; concurrently, Broadcom (and subsidiary VMware LLC) called for redemption several older series — the full outstanding principal of $1.118 billion of 4.110% notes due 2028, $875 million of 4.150% notes due 2028, and $1.25 billion of VMware's 3.900% notes due 2027, plus a partial redemption of $757 million of the 5.050% notes due 2027 — with redemption dates in January and February 2026. **September 2025 senior notes offering (accession 0001193125-25-223202).** On September 22, 2025, Broadcom entered into an underwriting agreement to issue $5.0 billion aggregate principal amount of senior notes: $1.0 billion of 4.200% notes due 2030, $2.25 billion of 4.800% notes due 2036, and $1.75 billion of 4.900% notes due 2038, settling September 29, 2025. Proceeds funded the redemption of older series held by subsidiaries Broadcom Corporation/Broadcom Technologies Inc. ($2.922 billion of 3.875% notes due 2027), CA, Inc. ($215.4 million of 4.700% notes due 2027), and VMware LLC ($500 million of 4.650% notes due 2027), with redemption dates in October 2025. **June 2026 debt tender offers, completed.** On June 11, 2026, Broadcom commenced cash tender offers (accession 0001193125-26-266777) for six series of outstanding senior notes (4.926% due 2037, 4.900% due 2038, 5.050% due 2030, 5.200% due 2032, 5.150% due 2031, and 4.900% due 2032), capped initially at $2.5 billion of aggregate purchase price. On June 17, 2026, Broadcom priced the offers (accession 0001193125-26-275077, Exhibit 99.1) and then announced the offers' expiration and results (Exhibit 99.2): the purchase cap was increased to $3.0 billion, roughly $5.5 billion in aggregate principal was validly tendered, and approximately $2.9 billion was accepted for purchase (substantially all of the 2037 and 2038 series tendered), with settlement on June 18, 2026 (June 23, 2026 for notes tendered under guaranteed-delivery procedures). ## Strategic/commercial agreements (not M&A) - **July 6, 2026 (accession 0001193125-26-295589):** Broadcom and Apple Inc. agreed to expand their technology collaboration through 2031, entering new multi-year agreements for Broadcom to develop and supply custom ASIC silicon products for multiple future generations of Apple products. - **April 6, 2026 (accession 0001193125-26-144028):** Broadcom and Google LLC entered a Long Term Agreement for Broadcom to develop custom Tensor Processing Units for Google, plus a Supply Assurance Agreement for AI-rack networking components, running through up to 2031. Separately, Broadcom, Google and Anthropic PBC expanded their collaboration under which Anthropic will access, beginning in 2027, approximately 3.5 gigawatts of next-generation TPU-based AI compute capacity through Broadcom, contingent on Anthropic's continued commercial success; the parties are in discussions with operational and financial partners regarding the deployment. These are commercial supply/development agreements, not acquisitions; no M&A signing or closing was disclosed in any 8-K reviewed for this period. The only acquisition referenced in the period's filings is the VMware, Inc. merger, which the company's filings describe as completed on November 22, 2023 — well before this reporting period — with a September 10, 2025 8-K (accession 0001193125-25-200108) furnishing only updated pro forma financial information for that already-closed transaction. ## Management and board changes - **March 30, 2026 (accession 0001193125-26-140574):** CFO and Chief Accounting Officer Kirsten M. Spears notified the company of her retirement, effective June 12, 2026. The Board appointed Amie Thuener, previously Vice President, Corporate Controller and Chief Accounting Officer of Alphabet Inc., to succeed her as CFO effective June 12, 2026, with employment beginning May 4, 2026. Ms. Spears entered a transition and consulting agreement running through March 15, 2027, during which her outstanding equity awards continue vesting (performance awards capped at target). Ms. Thuener's offer letter provides a $700,000 base salary, a target bonus of 100% of base salary, a $1,000,000 sign-on cash bonus, and equity grants of 50,000 RSUs and 50,000 PSUs (at target), expected to be granted June 15, 2026. - **February 24, 2026 (accession 0001193125-26-085656):** Director Eddy W. Hartenstein announced he would retire from the Board at the conclusion of his term at the 2026 Annual Meeting, per Broadcom's mandatory retirement age policy (age 75); the retirement was stated not to reflect any disagreement with the company. Board size was reduced to eight members at the Annual Meeting. - **September 3, 2025 (accession 0001193125-25-199281):** The independent Board members granted CEO Hock E. Tan a new performance stock unit award (target 610,521 shares) tied to cumulative AI-related revenue over a three-year performance period from the start of fiscal 2028 through the end of fiscal 2030, intended to extend his leadership through fiscal 2030. Payout ranges from 0% (at or below $60 billion of trailing four-quarter AI revenue) to a maximum of 300% (at or above $120 billion), with 100% payout at $90 billion. Mr. Tan also agreed to extended post-vesting holding requirements on shares from his 2022 PSU award. ## Annual meeting results **April 20, 2026 (accession 0001730168-26-000039).** At Broadcom's 2026 Annual Meeting held April 20, 2026, stockholders elected all eight director nominees, ratified PricewaterhouseCoopers LLP as independent auditor for fiscal year 2026, and approved (on an advisory basis) named executive officer compensation.