Name: Broadcom Inc. (NASDAQ:AVGO) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Broadcom Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Aug 2, 2026	May 3, 2026	Feb 1, 2026	Nov 2, 2025	Aug 3, 2025	May 4, 2025	Feb 2, 2025	Nov 3, 2024	Aug 4, 2024	May 5, 2024	Feb 4, 2024	Oct 29, 2023	Jul 30, 2023	Apr 30, 2023	Jan 29, 2023	Oct 30, 2022	Jul 31, 2022	May 1, 2022	Jan 30, 2022	Oct 31, 2021	Aug 1, 2021	May 2, 2021	Jan 31, 2021	Nov 1, 2020	Aug 2, 2020	May 3, 2020	Feb 2, 2020
Products	24,279)	16,892)	14,130)	13,222)	11,173)	10,309)	10,143)	8,316)	7,439)	7,192)	7,412)	7,151)	6,917)	6,741)	7,082)	7,180)	6,627)	6,417)	6,053)	5,758)	5,064)	4,983)	5,081)	4,853)	4,125)	4,253)	4,204)
Subscriptions and services	5,312)	5,295)	5,181)	4,793)	4,779)	4,695)	4,773)	5,738)	5,633)	5,295)	4,549)	2,144)	1,959)	1,992)	1,833)	1,750)	1,837)	1,686)	1,653)	1,649)	1,714)	1,627)	1,574)	1,614)	1,696)	1,489)	1,654)
Net revenue	29,591)	22,187)	19,311)	18,015)	15,952)	15,004)	14,916)	14,054)	13,072)	12,487)	11,961)	9,295)	8,876)	8,733)	8,915)	8,930)	8,464)	8,103)	7,706)	7,407)	6,778)	6,610)	6,655)	6,467)	5,821)	5,742)	5,858)
Cost of products sold	(6,983)	(4,665)	(4,041)	(3,600)	(3,098)	(2,722)	(2,695)	(2,774)	(2,434)	(2,429)	(2,160)	(2,285)	(2,107)	(2,019)	(2,225)	(2,141)	(1,921)	(1,798)	(1,769)	(1,763)	(1,572)	(1,548)	(1,672)	(1,602)	(1,383)	(1,448)	(1,459)
Cost of subscriptions and services	(641)	(636)	(638)	(613)	(606)	(574)	(578)	(625)	(699)	(713)	(954)	(164)	(165)	(158)	(149)	(157)	(156)	(158)	(156)	(157)	(157)	(151)	(142)	(151)	(154)	(144)	(177)
Amortization of acquisition-related intangible assets	(1,499)	(1,461)	(1,462)	(1,545)	(1,519)	(1,483)	(1,484)	(1,602)	(1,525)	(1,516)	(1,380)	(438)	(439)	(441)	(535)	(705)	(705)	(707)	(730)	(849)	(851)	(853)	(874)	(962)	(953)	(954)	(950)
Restructuring charges	(12)	(10)	(13)	(8)	(26)	(28)	(14)	(51)	(58)	(53)	(92)	(1)	(1)	—)	(2)	(1)	(1)	(1)	(2)	—)	(1)	(1)	(15)	(5)	(15)	(7)	(8)
Cost of revenue	(9,135)	(6,772)	(6,154)	(5,766)	(5,249)	(4,807)	(4,771)	(5,052)	(4,716)	(4,711)	(4,586)	(2,888)	(2,712)	(2,618)	(2,911)	(3,004)	(2,783)	(2,664)	(2,657)	(2,769)	(2,581)	(2,553)	(2,703)	(2,720)	(2,505)	(2,553)	(2,594)
Gross margin	20,456)	15,415)	13,157)	12,249)	10,703)	10,197)	10,145)	9,002)	8,356)	7,776)	7,375)	6,407)	6,164)	6,115)	6,004)	5,926)	5,681)	5,439)	5,049)	4,638)	4,197)	4,057)	3,952)	3,747)	3,316)	3,189)	3,264)
Research and development	(2,895)	(2,995)	(2,965)	(2,981)	(3,050)	(2,693)	(2,253)	(2,234)	(2,353)	(2,415)	(2,308)	(1,388)	(1,358)	(1,312)	(1,195)	(1,197)	(1,255)	(1,261)	(1,206)	(1,200)	(1,205)	(1,238)	(1,211)	(1,182)	(1,228)	(1,269)	(1,289)
Selling, general and administrative	(996)	(1,055)	(1,019)	(1,107)	(1,072)	(1,083)	(949)	(1,010)	(1,100)	(1,277)	(1,572)	(418)	(388)	(438)	(348)	(370)	(323)	(368)	(321)	(337)	(346)	(325)	(339)	(405)	(428)	(501)	(601)
Amortization of acquisition-related intangible assets	(507)	(506)	(507)	(507)	(507)	(506)	(511)	(813)	(812)	(827)	(792)	(348)	(350)	(348)	(348)	(358)	(359)	(398)	(397)	(494)	(494)	(494)	(494)	(599)	(600)	(599)	(603)
Restructuring and other charges	(103)	(71)	(103)	(146)	(187)	(86)	(172)	(318)	(303)	(292)	(620)	(13)	(212)	(9)	(10)	(15)	(7)	(18)	(17)	(26)	(26)	(25)	(71)	(35)	(52)	(54)	(57)
Operating expenses	(4,501)	(4,627)	(4,594)	(4,741)	(4,816)	(4,368)	(3,885)	(4,375)	(4,568)	(4,811)	(5,292)	(2,167)	(2,308)	(2,107)	(1,901)	(1,940)	(1,944)	(2,045)	(1,941)	(2,057)	(2,071)	(2,082)	(2,115)	(2,221)	(2,308)	(2,423)	(2,550)
Operating income	15,955)	10,788)	8,563)	7,508)	5,887)	5,829)	6,260)	4,627)	3,788)	2,965)	2,083)	4,240)	3,856)	4,008)	4,103)	3,986)	3,737)	3,394)	3,108)	2,581)	2,126)	1,975)	1,837)	1,526)	1,008)	766)	714)
Interest expense	(778)	(776)	(801)	(761)	(807)	(769)	(873)	(916)	(1,064)	(1,047)	(926)	(405)	(406)	(405)	(406)	(406)	(406)	(518)	(407)	(434)	(415)	(466)	(570)	(420)	(464)	(487)	(406)
Other income (expense), net	98)	118)	433)	122)	205)	25)	103)	52)	82)	87)	185)	132)	124)	113)	143)	40)	6)	(86)	(14)	22)	15)	(23)	117)	31)	49)	130)	(4)
Income from continuing operations before income taxes	15,275)	10,130)	8,195)	6,869)	5,285)	5,085)	5,490)	3,763)	2,806)	2,005)	1,342)	3,967)	3,574)	3,716)	3,840)	3,620)	3,337)	2,790)	2,687)	2,169)	1,726)	1,486)	1,384)	1,137)	593)	409)	304)
(Provision for) benefit from income taxes	(2,187)	(820)	(846)	1,649)	(1,145)	(120)	13)	442)	(4,238)	116)	(68)	(443)	(271)	(235)	(66)	(261)	(263)	(200)	(215)	(180)	150)	7)	(6)	187)	96)	159)	76)
Income (loss) from continuing operations	13,088)	9,310)	7,349)	8,518)	4,140)	4,965)	5,503)	4,205)	(1,432)	2,121)	1,274)	3,524)	3,303)	3,481)	3,774)	3,359)	3,074)	2,590)	2,472)	1,989)	1,876)	1,493)	1,378)	1,324)	689)	568)	380)
Income (loss) from discontinued operations, net of income taxes	—)	—)	—)	—)	—)	—)	—)	119)	(443)	—)	51)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1)	(5)	5)
Net income (loss)	13,088)	9,310)	7,349)	8,518)	4,140)	4,965)	5,503)	4,324)	(1,875)	2,121)	1,325)	3,524)	3,303)	3,481)	3,774)	3,359)	3,074)	2,590)	2,472)	1,989)	1,876)	1,493)	1,378)	1,324)	688)	563)	385)
Dividends on preferred stock	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(48)	(75)	(75)	(74)	(75)	(74)	(76)	(74)	(74)	(74)	(75)	(74)
Net income (loss) attributable to common stock	13,088)	9,310)	7,349)	8,518)	4,140)	4,965)	5,503)	4,324)	(1,875)	2,121)	1,325)	3,524)	3,303)	3,481)	3,774)	3,311)	2,999)	2,515)	2,398)	1,914)	1,802)	1,417)	1,304)	1,250)	614)	488)	311)

Revenue exhibits a strong and accelerating upward trajectory over the analyzed period, growing from 5,858 million US dollars in February 2020 to 29,591 million US dollars by August 2026. A significant inflection point is observed in early 2024, where both net revenue and the composition of income streams shifted substantially, leading to a period of rapid expansion in the final two years of the data set.

Revenue Composition and Growth: Product revenue grew steadily from 4,204 million US dollars in February 2020 to a peak of 24,279 million US dollars in August 2026. Subscriptions and services remained relatively stagnant between 1.4 billion and 2.1 billion US dollars until February 2024, at which point a sharp increase to 4,549 million US dollars occurred. This suggests a structural shift in the business model or the integration of a large-scale service-based acquisition, after which subscription revenue stabilized in the 4.7 billion to 5.3 billion US dollar range.
Gross Profitability and Cost Management: Gross margin expanded significantly, rising from 3,264 million US dollars to 20,456 million US dollars. The growth in gross margin outperformed the growth in net revenue, indicating an improvement in the gross margin percentage. While the cost of products sold increased in absolute terms, it did so at a slower rate than revenue growth, particularly in the latter half of the period, reflecting enhanced economies of scale.
Operating Expense Trends: Research and development (R&D) expenses remained stable around 1.2 billion US dollars per quarter until February 2024, when they surged to over 2.3 billion US dollars, eventually peaking near 3 billion US dollars. Selling, general and administrative (SG&A) expenses showed more stability, though they also saw a marked increase in early 2024. Amortization of acquisition-related intangible assets fluctuated significantly, with a notable spike in February 2024 to 1,380 million US dollars, further supporting the observation of a major corporate action or acquisition during that window.
Operating and Net Income Volatility: Operating income grew from 714 million US dollars in February 2020 to 15,955 million US dollars in August 2026. However, a temporary contraction in operating performance occurred in February 2024, where income dropped to 2,083 million US dollars despite rising revenues, due to a simultaneous spike in operating expenses and amortization. Net income showed extreme volatility in May 2024, recording a loss of 1,875 million US dollars, which is primarily attributed to a substantial tax provision of 4,238 million US dollars in that specific quarter.
Bottom-Line Evolution: Despite intermittent volatility caused by tax adjustments and restructuring charges, the long-term trend for net income attributable to common stock is strongly positive. The final quarters of the period show a high level of profitability, with net income reaching 13,088 million US dollars in August 2026, representing a substantial increase in the company's capacity to generate earnings for shareholders.

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Broadcom Inc. (NASDAQ:AVGO)

Income StatementQuarterly Data

Income Statement
Quarterly Data