Broadcom Inc. (AVGO) Q2 FY2026 Financial Statements: Revenue $22.19B, Net income $9.31B
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PeriodQ3 FY2026Q2 FY2026
Archived record for Q2 FY2026. The current period is Q3 FY2026.
Published
Broadcom Inc. reported $22.19 billion in revenue for Q2 FY2026, the quarter ended May 3, 2026, up 47.9% from a year earlier, and net income of $9.31 billion, up 87.5%. Almost all of the growth came from chips: semiconductor solutions revenue was $15.01 billion, up 78.5% on demand for custom AI accelerators and AI networking products, while infrastructure software revenue was $7.18 billion, up 8.8%. Operating margin widened to 48.6%, up 9.8 points, and diluted earnings per share were $1.91 against $1.03 a year earlier.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $22,187,000,000 | up 47.9% |
| Net income | $9,310,000,000 | up 87.5% |
| Diluted EPS | $1.91 | up 85.4% |
| Semiconductor solutions revenue | $15,009,000,000 | up 78.5% |
| Infrastructure software revenue | $7,178,000,000 | up 8.8% |
| Operating margin | 48.6% | up 9.8 points |
About this file
| Ticker | AVGO |
|---|---|
| CIK | 0001730168 |
| Company | Broadcom Inc. |
| Business type | industrial |
| Business subtype | semiconductor and infrastructure software |
| Schema template | standard operating company (revenue / cost of revenue / gross profit / operating income / net income), extended with two-segment detail (semiconductor solutions and infrastructure software) because Broadcom's reportable segments are the way the company itself presents and manages the business |
| Fiscal year end | 52/53-week year ending on the Sunday closest to October 31 |
| Latest period covered | fiscal second quarter and first half of fiscal 2026, ended May 3, 2026 |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual dollars (not millions); share counts in actual shares; per-share amounts in actual dollars |
| Units note on share counts | In both the 10-K statements of operations and the 10-Q condensed statements of operations, the weighted-average share counts sit inside tables headed '(In millions, except per share data)', so the printed counts (for example diluted 4,853 for fiscal 2025) are millions of shares. They have been multiplied to actual shares here. |
AVGO annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Fiscal year | 2025 | 2024 | 2023 |
| Period start | 2024-11-04 | 2023-10-30 | 2022-10-31 |
| Period end | 2025-11-02 | 2024-11-03 | 2023-10-29 |
| Weeks in year | 52 | 53 | 52 |
| Source accession | 0001730168-25-000121 | 0001730168-25-000121 | 0001730168-25-000121 |
| Source description | FY2025 Form 10-K, filed December 18, 2025 | Comparative fiscal 2024 columns as presented in the FY2025 Form 10-K, filed December 18, 2025 | Comparative fiscal 2023 columns as presented in the FY2025 Form 10-K, filed December 18, 2025 |
| Income statement | |||
| Revenue products | 44,847,000,000 | 34,960,000,000 | 28,949,000,000 |
| Revenue subscriptions and services | 19,040,000,000 | 16,614,000,000 | 6,870,000,000 |
| Total net revenue | 63,887,000,000 | 51,574,000,000 | 35,819,000,000 |
| Cost of products sold | 12,115,000,000 | 9,805,000,000 | 8,641,000,000 |
| Cost of subscriptions and services | 2,371,000,000 | 2,983,000,000 | 631,000,000 |
| Amortization of acquisition related intangibles in cost of revenue | 6,031,000,000 | 6,023,000,000 | 1,853,000,000 |
| Restructuring charges in cost of revenue | 76,000,000 | 254,000,000 | 4,000,000 |
| Total cost of revenue | 20,593,000,000 | 19,065,000,000 | 11,129,000,000 |
| Gross profit | 43,294,000,000 | 32,509,000,000 | 24,690,000,000 |
| Gross margin % | 67.8% | 63.0% | 68.9% |
| Research and development | 10,977,000,000 | 9,310,000,000 | 5,253,000,000 |
| Selling general and administrative | 4,211,000,000 | 4,959,000,000 | 1,592,000,000 |
| Amortization of acquisition related intangibles in operating expenses | 2,031,000,000 | 3,244,000,000 | 1,394,000,000 |
| Restructuring and other charges | 591,000,000 | 1,533,000,000 | 244,000,000 |
| Total operating expenses | 17,810,000,000 | 19,046,000,000 | 8,483,000,000 |
| Operating income | 25,484,000,000 | 13,463,000,000 | 16,207,000,000 |
| Operating margin % | 39.9% | 26.1% | 45.2% |
| Interest expense | -3,210,000,000 | -3,953,000,000 | -1,622,000,000 |
| Other income net | 455,000,000 | 406,000,000 | 512,000,000 |
| Income before income taxes | 22,729,000,000 | 9,916,000,000 | 15,097,000,000 |
| Provision for benefit from income taxes | -397,000,000 | 3,748,000,000 | 1,015,000,000 |
| Income from continuing operations | 23,126,000,000 | 6,168,000,000 | 14,082,000,000 |
| Loss from discontinued operations net of tax | 0 | -273,000,000 | 0 |
| Net income | 23,126,000,000 | 5,895,000,000 | 14,082,000,000 |
| Net margin % | 36.2% | 11.4% | 39.3% |
| EPS basic | 4.91 | 1.27 | 3.39 |
| EPS diluted | 4.77 | 1.23 | 3.3 |
| Weighted average shares basic | 4,712,000,000 | 4,624,000,000 | 4,149,000,000 |
| Weighted average shares diluted | 4,853,000,000 | 4,778,000,000 | 4,272,000,000 |
| Dividends declared per share | 2.36 | 2.105 | 1.84 |
| Stock based compensation expense | 7,568,000,000 | 5,741,000,000 | 2,171,000,000 |
| Balance sheet | |||
| As of | 2025-11-02 | 2024-11-03 | |
| Cash and cash equivalents | 16,178,000,000 | 9,348,000,000 | |
| Trade accounts receivable net | 7,145,000,000 | 4,416,000,000 | |
| Inventory | 2,270,000,000 | 1,760,000,000 | |
| Other current assets | 5,980,000,000 | 4,071,000,000 | |
| Total current assets | 31,573,000,000 | 19,595,000,000 | |
| Property plant and equipment net | 2,530,000,000 | 2,521,000,000 | |
| Goodwill | 97,801,000,000 | 97,873,000,000 | |
| Intangible assets net | 32,273,000,000 | 40,583,000,000 | |
| Other long term assets | 6,915,000,000 | 5,073,000,000 | |
| Total assets | 171,092,000,000 | 165,645,000,000 | |
| Accounts payable | 1,560,000,000 | 1,662,000,000 | |
| Employee compensation and benefits | 2,129,000,000 | 1,971,000,000 | |
| Short term debt | 3,152,000,000 | 1,271,000,000 | |
| Other current liabilities | 11,673,000,000 | 11,793,000,000 | |
| Total current liabilities | 18,514,000,000 | 16,697,000,000 | |
| Long term debt | 61,984,000,000 | 66,295,000,000 | |
| Other long term liabilities | 9,302,000,000 | 14,975,000,000 | |
| Total liabilities | 89,800,000,000 | 97,967,000,000 | |
| Common stock par value | 5,000,000 | 5,000,000 | |
| Additional paid in capital | 71,308,000,000 | 67,466,000,000 | |
| Retained earnings | 9,761,000,000 | 0 | |
| Accumulated other comprehensive income | 218,000,000 | 207,000,000 | |
| Total stockholders equity | 81,292,000,000 | 67,678,000,000 | |
| Total liabilities and equity | 171,092,000,000 | 165,645,000,000 | |
| Shares issued and outstanding | 4,741,000,000 | 4,686,000,000 | |
| Total debt carrying value | 65,136,000,000 | 67,566,000,000 | |
| Total debt principal outstanding | 67,120,000,000 | 69,847,000,000 | |
| Net debt | 48,958,000,000 | 58,218,000,000 | |
| Cash flow | |||
| Net income | 23,126,000,000 | 5,895,000,000 | 14,082,000,000 |
| Amortization of intangible and right of use assets | 8,201,000,000 | 9,417,000,000 | 3,333,000,000 |
| Depreciation | 574,000,000 | 593,000,000 | 502,000,000 |
| Stock based compensation | 7,568,000,000 | 5,741,000,000 | 2,171,000,000 |
| Deferred taxes and other non cash taxes | -4,008,000,000 | 1,965,000,000 | -501,000,000 |
| Loss on debt extinguishment | 138,000,000 | 157,000,000 | |
| Non cash interest expense | 344,000,000 | 427,000,000 | 132,000,000 |
| Net cash provided by operating activities | 27,537,000,000 | 19,962,000,000 | 18,085,000,000 |
| Acquisitions of businesses net of cash acquired | 0 | -25,978,000,000 | -53,000,000 |
| Proceeds from sales of businesses | 300,000,000 | 3,485,000,000 | |
| Purchases of property plant and equipment | -623,000,000 | -548,000,000 | -452,000,000 |
| Purchases of investments | -597,000,000 | -175,000,000 | -346,000,000 |
| Sales of investments | 248,000,000 | 156,000,000 | 228,000,000 |
| Net cash used in investing activities | -580,000,000 | -23,070,000,000 | -689,000,000 |
| Proceeds from long term borrowings | 15,666,000,000 | 39,954,000,000 | 0 |
| Payments on debt obligations | -18,478,000,000 | -19,608,000,000 | -403,000,000 |
| Payments of dividends | -11,142,000,000 | -9,814,000,000 | -7,645,000,000 |
| Repurchases of common stock repurchase program | -2,450,000,000 | -7,176,000,000 | -5,824,000,000 |
| Shares repurchased for tax withholdings on vesting of equity awards | -3,860,000,000 | -5,216,000,000 | -1,861,000,000 |
| Issuance of common stock | 221,000,000 | 190,000,000 | 122,000,000 |
| Net cash used in financing activities | -20,127,000,000 | -1,733,000,000 | -15,623,000,000 |
| Net change in cash and cash equivalents | 6,830,000,000 | -4,841,000,000 | 1,773,000,000 |
| Cash and cash equivalents end of period | 16,178,000,000 | 9,348,000,000 | 14,189,000,000 |
| Capital expenditures | 623,000,000 | 548,000,000 | 452,000,000 |
| Free cash flow | 26,914,000,000 | 19,414,000,000 | 17,633,000,000 |
| Cash paid for interest | 2,672,000,000 | 3,250,000,000 | 1,503,000,000 |
| Cash paid for income taxes | 2,589,000,000 | 3,155,000,000 | 1,782,000,000 |
| Segments | |||
| Semiconductor solutions | |||
| Net revenue | 36,858,000,000 | 30,096,000,000 | 28,182,000,000 |
| Cost of revenue | 11,740,000,000 | 9,809,000,000 | 8,447,000,000 |
| Research and development | 3,407,000,000 | 3,140,000,000 | 2,896,000,000 |
| Selling general and administrative | 479,000,000 | 388,000,000 | 353,000,000 |
| Operating income | 21,232,000,000 | 16,759,000,000 | 16,486,000,000 |
| Infrastructure software | |||
| Net revenue | 27,029,000,000 | 21,478,000,000 | 7,637,000,000 |
| Cost of revenue | 1,902,000,000 | 2,306,000,000 | 615,000,000 |
| Research and development | 2,550,000,000 | 2,707,000,000 | 844,000,000 |
| Selling general and administrative | 1,812,000,000 | 2,488,000,000 | 539,000,000 |
| Operating income | 20,765,000,000 | 13,977,000,000 | 5,639,000,000 |
| Unallocated expenses | |||
| Amortization of acquisition related intangible assets | 8,062,000,000 | 9,267,000,000 | 3,247,000,000 |
| Stock based compensation | 7,568,000,000 | 5,670,000,000 | 2,171,000,000 |
| Restructuring and other charges | 667,000,000 | 1,787,000,000 | 248,000,000 |
| Acquisition related costs | 216,000,000 | 549,000,000 | 252,000,000 |
| Consolidated operating income | 25,484,000,000 | 13,463,000,000 | 16,207,000,000 |
| Geographic net revenue | |||
| United states | 16,506,000,000 | 12,887,000,000 | 6,975,000,000 |
| China including hong kong | 11,155,000,000 | 10,483,000,000 | 11,533,000,000 |
| Singapore | 10,796,000,000 | 9,559,000,000 | 4,479,000,000 |
| Taiwan | 6,451,000,000 | ||
| Other foreign countries | 18,979,000,000 | 18,645,000,000 | 12,832,000,000 |
| Balance sheet note | The FY2025 10-K presents the balance sheet for only two dates (November 2, 2025 and November 3, 2024), so no fiscal 2023 balance sheet is shown on the face of that filing. The one fiscal 2023 balance-sheet figure that does appear is the closing cash balance carried into the cash flow statement: cash and cash equivalents of $14,189 million at October 29, 2023. | ||
AVGO quarterly income statement, balance sheet and cash flow
| FY2026 Q2 | FY2025 Q2 (prior-year comparative) | |
|---|---|---|
| Label | FY2026 Q2 | FY2025 Q2 (prior-year comparative) |
| Period type | fiscal quarter | fiscal quarter |
| Period start | 2026-02-02 | 2025-02-03 |
| Period end | 2026-05-03 | 2025-05-04 |
| Source accession | 0001730168-26-000054 | 0001730168-26-000054 |
| Source description | Form 10-Q for the fiscal quarter ended May 3, 2026, filed June 9, 2026 (unaudited) | Prior-year comparative columns as presented in the Form 10-Q for the fiscal quarter ended May 3, 2026 (unaudited) |
| Income statement | ||
| Revenue products | 16,892,000,000 | 10,309,000,000 |
| Revenue subscriptions and services | 5,295,000,000 | 4,695,000,000 |
| Total net revenue | 22,187,000,000 | 15,004,000,000 |
| Cost of products sold | 4,665,000,000 | 2,722,000,000 |
| Cost of subscriptions and services | 636,000,000 | 574,000,000 |
| Amortization of acquisition related intangibles in cost of revenue | 1,461,000,000 | 1,483,000,000 |
| Restructuring charges in cost of revenue | 10,000,000 | 28,000,000 |
| Total cost of revenue | 6,772,000,000 | 4,807,000,000 |
| Gross profit | 15,415,000,000 | 10,197,000,000 |
| Gross margin % | 69.5% | 68.0% |
| Research and development | 2,995,000,000 | 2,693,000,000 |
| Selling general and administrative | 1,055,000,000 | 1,083,000,000 |
| Amortization of acquisition related intangibles in operating expenses | 506,000,000 | 506,000,000 |
| Restructuring and other charges | 71,000,000 | 86,000,000 |
| Total operating expenses | 4,627,000,000 | 4,368,000,000 |
| Operating income | 10,788,000,000 | 5,829,000,000 |
| Operating margin % | 48.6% | 38.8% |
| Interest expense | -776,000,000 | -769,000,000 |
| Other income net | 118,000,000 | 25,000,000 |
| Income before income taxes | 10,130,000,000 | 5,085,000,000 |
| Provision for income taxes | 820,000,000 | 120,000,000 |
| Net income | 9,310,000,000 | 4,965,000,000 |
| Net margin % | 42.0% | 33.1% |
| EPS basic | 1.96 | 1.05 |
| EPS diluted | 1.91 | 1.03 |
| Weighted average shares basic | 4,747,000,000 | 4,707,000,000 |
| Weighted average shares diluted | 4,876,000,000 | 4,826,000,000 |
| Dividends declared per share | 0.65 | 0.59 |
| Dividends to common stockholders | 3,092,000,000 | 2,785,000,000 |
| Stock based compensation expense | 2,092,000,000 | 1,771,000,000 |
| Balance sheet | ||
| As of | 2026-05-03 | |
| Cash and cash equivalents | 19,628,000,000 | |
| Trade accounts receivable net | 10,830,000,000 | |
| Inventory | 4,328,000,000 | |
| Other current assets | 7,427,000,000 | |
| Total current assets | 42,213,000,000 | |
| Property plant and equipment net | 2,788,000,000 | |
| Goodwill | 97,801,000,000 | |
| Intangible assets net | 28,333,000,000 | |
| Other long term assets | 8,023,000,000 | |
| Total assets | 179,158,000,000 | |
| Accounts payable | 2,337,000,000 | |
| Employee compensation and benefits | 1,134,000,000 | |
| Short term debt | 2,252,000,000 | |
| Other current liabilities | 13,139,000,000 | |
| Total current liabilities | 18,862,000,000 | |
| Long term debt | 62,655,000,000 | |
| Other long term liabilities | 9,950,000,000 | |
| Total liabilities | 91,467,000,000 | |
| Common stock par value | 5,000,000 | |
| Additional paid in capital | 75,312,000,000 | |
| Retained earnings | 12,166,000,000 | |
| Accumulated other comprehensive income | 208,000,000 | |
| Total stockholders equity | 87,691,000,000 | |
| Total liabilities and equity | 179,158,000,000 | |
| Shares issued and outstanding | 4,758,000,000 | |
| Shares outstanding on cover page | 4,757,580,198 | |
| Shares outstanding cover date | 2026-05-29 | |
| Total debt carrying value | 64,907,000,000 | |
| Total debt principal outstanding | 66,720,000,000 | |
| Net debt | 45,279,000,000 | |
| Segments | ||
| Semiconductor solutions | ||
| Net revenue | 15,009,000,000 | 8,408,000,000 |
| Cost of revenue | 4,573,000,000 | 2,631,000,000 |
| Research and development | 999,000,000 | 847,000,000 |
| Selling general and administrative | 156,000,000 | 124,000,000 |
| Operating income | 9,281,000,000 | 4,806,000,000 |
| Infrastructure software | ||
| Net revenue | 7,178,000,000 | 6,596,000,000 |
| Cost of revenue | 505,000,000 | 462,000,000 |
| Research and development | 601,000,000 | 677,000,000 |
| Selling general and administrative | 425,000,000 | 470,000,000 |
| Operating income | 5,647,000,000 | 4,987,000,000 |
| Unallocated expenses | ||
| Stock based compensation | 2,092,000,000 | 1,771,000,000 |
| Amortization of acquisition related intangible assets | 1,967,000,000 | 1,989,000,000 |
| Restructuring and other charges | 81,000,000 | 114,000,000 |
| Acquisition related costs | 0 | 90,000,000 |
| Consolidated operating income | 10,788,000,000 | 5,829,000,000 |
AVGO year-to-date income statement and cash flow
| FY2026 first half (two fiscal quarters) | |
|---|---|
| Label | FY2026 first half (two fiscal quarters) |
| Period type | year to date |
| Period start | 2025-11-03 |
| Period end | 2026-05-03 |
| Source accession | 0001730168-26-000054 |
| Source description | Form 10-Q for the fiscal quarter ended May 3, 2026, filed June 9, 2026 (unaudited) |
| Income statement | |
| Revenue products | 31,022,000,000 |
| Revenue subscriptions and services | 10,476,000,000 |
| Total net revenue | 41,498,000,000 |
| Cost of products sold | 8,706,000,000 |
| Cost of subscriptions and services | 1,274,000,000 |
| Amortization of acquisition related intangibles in cost of revenue | 2,923,000,000 |
| Restructuring charges in cost of revenue | 23,000,000 |
| Total cost of revenue | 12,926,000,000 |
| Gross profit | 28,572,000,000 |
| Gross margin % | 68.9% |
| Research and development | 5,960,000,000 |
| Selling general and administrative | 2,074,000,000 |
| Amortization of acquisition related intangibles in operating expenses | 1,013,000,000 |
| Restructuring and other charges | 174,000,000 |
| Total operating expenses | 9,221,000,000 |
| Operating income | 19,351,000,000 |
| Operating margin % | 46.6% |
| Interest expense | -1,577,000,000 |
| Other income net | 551,000,000 |
| Income before income taxes | 18,325,000,000 |
| Provision for income taxes | 1,666,000,000 |
| Net income | 16,659,000,000 |
| Net margin % | 40.1% |
| EPS basic | 3.51 |
| EPS diluted | 3.41 |
| Weighted average shares basic | 4,744,000,000 |
| Weighted average shares diluted | 4,882,000,000 |
| Dividends declared per share | 1.3 |
| Dividends to common stockholders | 6,178,000,000 |
| Stock based compensation expense | 4,268,000,000 |
| Cash flow | |
| Net income | 16,659,000,000 |
| Amortization of intangible and right of use assets | 4,005,000,000 |
| Depreciation | 313,000,000 |
| Stock based compensation | 4,268,000,000 |
| Deferred taxes and other non cash taxes | -1,058,000,000 |
| Loss on debt extinguishment | 86,000,000 |
| Non cash interest expense | 139,000,000 |
| Net cash provided by operating activities | 18,753,000,000 |
| Purchases of property plant and equipment | -481,000,000 |
| Purchases of investments | -137,000,000 |
| Sales of investments | 283,000,000 |
| Net cash used in investing activities | -323,000,000 |
| Proceeds from long term borrowings | 4,474,000,000 |
| Payments on debt obligations | -4,900,000,000 |
| Proceeds from commercial paper net | 0 |
| Payments of dividends | -6,178,000,000 |
| Repurchases of common stock repurchase program | -8,450,000,000 |
| Shares repurchased for tax withholdings on vesting of equity awards | 0 |
| Issuance of common stock | 113,000,000 |
| Net cash used in financing activities | -14,980,000,000 |
| Net change in cash and cash equivalents | 3,450,000,000 |
| Cash and cash equivalents end of period | 19,628,000,000 |
| Capital expenditures | 481,000,000 |
| Free cash flow | 18,272,000,000 |
| Balance sheet reference | See the FY2026 Q2 entry above for the May 3, 2026 balance sheet. |
| Segments | |
| Semiconductor solutions | |
| Net revenue | 27,524,000,000 |
| Cost of revenue | 8,522,000,000 |
| Research and development | 1,940,000,000 |
| Selling general and administrative | 278,000,000 |
| Operating income | 16,784,000,000 |
| Infrastructure software | |
| Net revenue | 13,974,000,000 |
| Cost of revenue | 999,000,000 |
| Research and development | 1,178,000,000 |
| Selling general and administrative | 827,000,000 |
| Operating income | 10,970,000,000 |
| Unallocated expenses | |
| Stock based compensation | 4,268,000,000 |
| Amortization of acquisition related intangible assets | 3,936,000,000 |
| Restructuring and other charges | 197,000,000 |
| Acquisition related costs | 2,000,000 |
| Consolidated operating income | 19,351,000,000 |
| Prior year comparative | |
| Label | FY2025 first half (prior-year comparative) |
| Period type | year to date |
| Period start | 2024-11-04 |
| Period end | 2025-05-04 |
| Source accession | 0001730168-26-000054 |
| Source description | Prior-year comparative columns as presented in the Form 10-Q for the fiscal quarter ended May 3, 2026 (unaudited) |
| Income statement | |
| Revenue products | 20,452,000,000 |
| Revenue subscriptions and services | 9,468,000,000 |
| Total net revenue | 29,920,000,000 |
| Cost of products sold | 5,417,000,000 |
| Cost of subscriptions and services | 1,152,000,000 |
| Amortization of acquisition related intangibles in cost of revenue | 2,967,000,000 |
| Restructuring charges in cost of revenue | 42,000,000 |
| Total cost of revenue | 9,578,000,000 |
| Gross profit | 20,342,000,000 |
| Gross margin % | 68.0% |
| Research and development | 4,946,000,000 |
| Selling general and administrative | 2,032,000,000 |
| Amortization of acquisition related intangibles in operating expenses | 1,017,000,000 |
| Restructuring and other charges | 258,000,000 |
| Total operating expenses | 8,253,000,000 |
| Operating income | 12,089,000,000 |
| Operating margin % | 40.4% |
| Interest expense | -1,642,000,000 |
| Other income net | 128,000,000 |
| Income before income taxes | 10,575,000,000 |
| Provision for income taxes | 107,000,000 |
| Net income | 10,468,000,000 |
| Net margin % | 35.0% |
| EPS basic | 2.23 |
| EPS diluted | 2.17 |
| Weighted average shares basic | 4,701,000,000 |
| Weighted average shares diluted | 4,831,000,000 |
| Dividends declared per share | 1.18 |
| Dividends to common stockholders | 5,559,000,000 |
| Stock based compensation expense | 3,051,000,000 |
| Cash flow | |
| Net income | 10,468,000,000 |
| Amortization of intangible and right of use assets | 4,056,000,000 |
| Depreciation | 284,000,000 |
| Stock based compensation | 3,051,000,000 |
| Deferred taxes and other non cash taxes | -1,267,000,000 |
| Loss on debt extinguishment | 65,000,000 |
| Non cash interest expense | 191,000,000 |
| Net cash provided by operating activities | 12,668,000,000 |
| Purchases of property plant and equipment | -244,000,000 |
| Purchases of investments | -162,000,000 |
| Sales of investments | 96,000,000 |
| Net cash used in investing activities | -307,000,000 |
| Proceeds from long term borrowings | 3,735,000,000 |
| Payments on debt obligations | -8,090,000,000 |
| Proceeds from commercial paper net | 3,861,000,000 |
| Payments of dividends | -5,559,000,000 |
| Repurchases of common stock repurchase program | -2,450,000,000 |
| Shares repurchased for tax withholdings on vesting of equity awards | -3,802,000,000 |
| Issuance of common stock | 118,000,000 |
| Net cash used in financing activities | -12,237,000,000 |
| Net change in cash and cash equivalents | 124,000,000 |
| Cash and cash equivalents end of period | 9,472,000,000 |
| Capital expenditures | 244,000,000 |
| Free cash flow | 12,424,000,000 |
| Balance sheet | n/a |
| Segments | |
| Semiconductor solutions | |
| Net revenue | 16,620,000,000 |
| Cost of revenue | 5,247,000,000 |
| Research and development | 1,638,000,000 |
| Selling general and administrative | 223,000,000 |
| Operating income | 9,512,000,000 |
| Infrastructure software | |
| Net revenue | 13,300,000,000 |
| Cost of revenue | 966,000,000 |
| Research and development | 1,317,000,000 |
| Selling general and administrative | 908,000,000 |
| Operating income | 10,109,000,000 |
| Unallocated expenses | |
| Stock based compensation | 3,051,000,000 |
| Amortization of acquisition related intangible assets | 3,984,000,000 |
| Restructuring and other charges | 300,000,000 |
| Acquisition related costs | 197,000,000 |
| Consolidated operating income | 12,089,000,000 |
AVGO trailing twelve month income statement and cash flow
| Trailing twelve months ended May 3, 2026 | |
|---|---|
| Label | Trailing twelve months ended May 3, 2026 |
| Period start | 2025-05-05 |
| Period end | 2026-05-03 |
| Derivation | Fiscal 2025 full year (from the FY2025 10-K, accession 0001730168-25-000121) minus the first half of fiscal 2025 plus the first half of fiscal 2026 (both from the Form 10-Q for the quarter ended May 3, 2026, accession 0001730168-26-000054). Every input is a figure printed on the face of one of those two filings. |
| Total net revenue | 75,465,000,000 |
| Gross profit | 51,524,000,000 |
| Operating income | 32,746,000,000 |
| Net income | 29,317,000,000 |
| Net cash provided by operating activities | 33,622,000,000 |
| Capital expenditures | 860,000,000 |
| Free cash flow | 32,762,000,000 |
| Dividends paid | 11,761,000,000 |
| Semiconductor solutions net revenue | 47,762,000,000 |
| Infrastructure software net revenue | 27,703,000,000 |
| Note | Diluted earnings per share is deliberately not shown on a trailing-twelve-month basis, because the weighted-average share counts of the component periods are not additive. |
Adjustments
| Value | |
|---|---|
| Splits applied | |
| 1. | |
| Date | 2024-07-15 |
| Ratio | 10:1 |
| Type | forward |
| Treatment | No manual adjustment was needed. The 10-for-1 forward split took effect in July 2024, before the fiscal 2025 10-K was filed, so every per-share figure and weighted-average share count presented in that 10-K (fiscal years 2025, 2024 and 2023) and in the fiscal 2026 second-quarter 10-Q is already stated on the post-split basis. All per-share figures in this file are therefore directly comparable across periods. |
| ADR ratio | n/a |
| FX | None. Broadcom reports in U.S. dollars, so no currency conversion was applied. |
Notes
- Every figure in this file comes from the face of one of two filings: the fiscal 2025 Form 10-K (accession 0001730168-25-000121, fiscal year ended November 2, 2025, filed December 18, 2025) and the Form 10-Q for the fiscal quarter ended May 3, 2026 (accession 0001730168-26-000054, filed June 9, 2026). Amounts printed in millions in those filings have been restated here in actual dollars.
- Broadcom operates on a 52/53-week fiscal year ending on the Sunday closest to October 31. Fiscal 2025 ended November 2, 2025 and was a 52-week year; fiscal 2024 ended November 3, 2024 and was a 53-week year; fiscal 2023 ended October 29, 2023. The extra week in fiscal 2024 flatters year-over-year comparisons against fiscal 2023 slightly.
- The fiscal 2025 10-K presents three years of income statement and cash flow data (fiscal 2025, 2024 and 2023) but only two balance sheet dates (November 2, 2025 and November 3, 2024). Accordingly no fiscal 2023 balance sheet is reported here.
- The fiscal 2025 provision for income taxes was a net benefit of $397 million rather than an expense, which is why net income of $23,126 million exceeds pre-tax income of $22,729 million for that year.
- Fiscal 2024 results were shaped by the VMware acquisition, completed November 22, 2023 (the first day of fiscal 2024). That transaction is the reason infrastructure software revenue jumped from $7,637 million in fiscal 2023 to $21,478 million in fiscal 2024, and it also drove the fiscal 2024 spike in acquisition-related intangible amortization, interest expense and restructuring charges that compressed fiscal 2024 operating and net income.
- Fiscal 2024 also included a $273 million loss from discontinued operations, net of income taxes. Fiscal 2025 and fiscal 2023 had none.
- Total debt is reported two ways because the filings do. The carrying value (short-term debt plus long-term debt on the balance sheet, net of unamortized discount and issuance costs) was $64,907 million at May 3, 2026 and $65,136 million at November 2, 2025. The principal amount outstanding, before that discount, was $66,720 million and $67,120 million on those same dates.
- Retained earnings on the November 3, 2024 balance sheet were zero: fiscal 2024 dividends exceeded accumulated earnings, and the excess of $2,809 million was charged to additional paid-in capital. By November 2, 2025 retained earnings had rebuilt to $9,761 million and by May 3, 2026 to $12,166 million.
- Dividends per share are stated as declared and paid: $2.360 for fiscal 2025, $2.105 for fiscal 2024 and $1.840 for fiscal 2023. The quarterly rate was $0.59 through fiscal 2025 and $0.65 in each quarter of fiscal 2026 so far; on June 2, 2026 the board declared a further quarterly dividend of $0.65 per share, payable June 30, 2026.
- Free cash flow is shown as net cash provided by operating activities less purchases of property, plant and equipment, both taken directly from the cash flow statements. It is a derived measure, not a line item in the filings.
- Segment figures are Broadcom's own two reportable segments. Stock-based compensation, amortization of acquisition-related intangible assets, restructuring and other charges, and acquisition-related costs are not allocated to the segments by the company, so segment operating income sums to more than consolidated operating income; the unallocated expenses that bridge the two are listed for each period. The company does not disclose assets by segment.
- Customer concentration is significant and rising: one customer accounted for 32% of net revenue in fiscal 2025, 28% in fiscal 2024 and 21% in fiscal 2023, and that customer represented 44% of net accounts receivable at November 2, 2025. Broadcom states that its top five end customers accounted for roughly 40% of net revenue in each of fiscal 2025 and 2024.
- Purchase commitments disclosed in the second-quarter fiscal 2026 10-Q rose to $128,110 million as of May 3, 2026, from $132 million as of November 2, 2025, with $55,214 million falling due in fiscal 2027 and $72,870 million in fiscal 2028. This is an extraordinary change in scale, reflecting new unconditional supply commitments entered into during the first half of fiscal 2026, and it is a material forward obligation not visible anywhere on the balance sheet.
- The filings themselves are the source for every number above. Where a figure is not shown on the face of either filing, it is reported here as unavailable rather than reconstructed.
Uncertainties
- The first quarter of fiscal 2026 in isolation (the quarter ended February 1, 2026) is not presented as a column in the second-quarter 10-Q, which shows only the quarter and the two-quarter year-to-date period. Standalone first-quarter figures are therefore not reported here; they can be inferred by subtraction from the year-to-date column but are not printed in either filing used.
- No balance sheet is reported for fiscal 2023 or for any interim date other than May 3, 2026, November 2, 2025 and November 3, 2024, because those are the only balance sheet dates presented in the two filings used.
- Trailing-twelve-month figures are arithmetic combinations of reported periods rather than figures the company itself publishes. They are exact for additive flow measures such as revenue, operating income, net income and cash flow, but should not be applied to per-share metrics.
- The fiscal 2024 income statement and cash flow statement cover a 53-week year while fiscal 2025 and fiscal 2023 cover 52 weeks. No attempt has been made to normalize for the extra week.
- Total debt principal outstanding at the fiscal 2024 balance sheet date is shown as $69,847 million in the fiscal 2025 10-K debt schedule, while the current portion of principal in that same schedule is $1,245 million against $1,271 million of total short-term debt on the balance sheet; the $26 million difference is short-term finance lease liabilities, which the schedule lists separately. The equivalent finance lease balances were nil at November 2, 2025 and are not separately shown at May 3, 2026.
- Subsequent to the second-quarter 10-Q, Broadcom commenced and priced cash tender offers to purchase certain outstanding notes (announced June 11 and June 17, 2026). The resulting change in debt outstanding is not reflected in the May 3, 2026 balance sheet reported here, and the completed amounts were not disclosed in a periodic report available at the time of writing.
Company details
| Value | |
|---|---|
| Name | Broadcom Inc. |
| Ticker | AVGO |
| CIK | 0001730168 |
| Exchange | Nasdaq |
| State | California |
| Incorporation | |
| SIC | 3674 |
| Office | Manufacturing |
| Industry | Semiconductors & Related Devices |
Fiscal period
| FY2026 | |
|---|---|
| Fiscal year | 2026 |
| Fiscal period | Q2 |
| Tag | FY26Q2 |
| Period end | 2026-05-03 |
| Form | 10-Q |
| Accession | 0001730168-26-000054 |
| Fiscal year end | 1101 |
| Source | facts |
FAQ · Broadcom financial statements
How much revenue did Broadcom report in Q2 FY2026?
Broadcom reported $22.19 billion in revenue for Q2 FY2026, the quarter ended May 3, 2026. That is up 47.9% from $15.00 billion in the same quarter a year earlier.
What was Broadcom's net income and earnings per share in Q2 FY2026?
Broadcom earned net income of $9.31 billion in Q2 FY2026, up 87.5% from $4.96 billion a year earlier, on diluted earnings per share of $1.91 against $1.03.
How fast is Broadcom's AI and semiconductor business growing?
Broadcom's semiconductor solutions segment, which houses its custom AI accelerator and AI networking products, generated $15.01 billion of revenue in Q2 FY2026, up 78.5% from $8.41 billion a year earlier. Infrastructure software, the VMware and enterprise software segment, contributed $7.18 billion, up 8.8%.
What is Broadcom's operating margin?
Broadcom's operating margin was 48.6% in Q2 FY2026, the quarter ended May 3, 2026, up 9.8 points from 38.8% a year earlier, as revenue grew faster than research and development and selling costs.
Where can I get Broadcom Inc. (AVGO) financial data in machine-readable form?
Ticker Scout publishes Broadcom Inc.'s financial statements as JSON at https://tickerscout.ai/avgo/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/avgo/narrative.md and https://tickerscout.ai/avgo/events.md. Broadcom Inc.'s SEC CIK is 0001730168. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
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How this page was built
This page was built from two of Broadcom Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names six such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from Broadcom Inc.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.