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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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2009
- Return on Equity (ROE) since 2009
- Current Ratio since 2009
- Price to Earnings (P/E) since 2009
- Price to Sales (P/S) since 2009
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Broadcom Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-11-02), 10-Q (reporting date: 2025-08-03), 10-Q (reporting date: 2025-05-04), 10-Q (reporting date: 2025-02-02), 10-K (reporting date: 2024-11-03), 10-Q (reporting date: 2024-08-04), 10-Q (reporting date: 2024-05-05), 10-Q (reporting date: 2024-02-04), 10-K (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-29), 10-K (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-Q (reporting date: 2022-01-30), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-Q (reporting date: 2020-02-02).
- Revenue Trends
- The net revenue exhibits a generally upward trend over the periods analyzed, starting from approximately $5.9 billion and reaching close to $18 billion by the final quarter. Both product revenues and subscriptions and services revenues contribute to this growth, with product revenue showing a strong increase, particularly from early 2023 onward. Subscription and services revenue fluctuates, with a notable spike in early 2024, followed by a negative value appearing in the last period, which may indicate a reporting adjustment or anomaly.
- Cost of Revenue and Gross Margin
- Costs associated with products sold have progressively increased over time, consistent with growing product revenue. Cost of subscriptions and services remains relatively stable but shows a sharp increase in early 2024, possibly linked to the revenue anomaly noted. The amortization of acquisition-related intangible assets sees a decline through 2022 but jumps significantly in 2024, suggesting acquisitions or accounting changes. Overall cost of revenue rises in line with revenue, but the gross margin improves steadily, indicating enhanced profitability or efficiency gains, with gross margin climbing from about $3.3 billion to over $12 billion.
- Operating Expenses
- Research and development expenses remain high and relatively steady, with minor increases noted particularly from 2023 onward. Selling, general, and administrative expenses experience some volatility but exhibit an increase in recent periods. Amortization of acquisition-related intangible assets under operating expenses declines gradually but with significant spikes in 2024, mirroring trends in cost of revenue. Restructuring and other charges fluctuate over time, with notable peaks in early 2024, suggesting periods of organizational adjustment. The cumulative result is a general increase in operating expenses, peaking sharply in early 2024 before stabilizing somewhat.
- Profitability and Income Measures
- Operating income follows an upward trajectory initially, reaching new highs before a marked decline in early 2024, likely tied to the anomalous costs and expenses during that period. Interest expenses remain significant and relatively stable, with elevations in 2024. Other income (expense) is mostly positive with some fluctuations, offering a minor offset to expenses. Income from continuing operations before income taxes reflects overall profitability trends but shows a pronounced dip in early 2024. Tax provisions fluctuate significantly, with a large tax benefit recorded in one 2024 quarter, contributing to unusual net income behavior. Net income attributable to common stock demonstrates strong gains overall, interrupted by a considerable loss in early 2024, before rebounding sharply toward period end.
- Additional Observations
- Dividends on preferred stock are consistent with slight variation in early periods and cease to be reported in later periods, likely due to changes in capital structure. The inclusion of income from discontinued operations is minimal and sporadic, with no strong impact on total net income. The data indicates ongoing acquisitions, restructuring, and possibly other discrete events influencing intangible asset amortization and restructuring charges. The financial pattern suggests a company experiencing growth with intermittent periods of significant accounting or operational adjustments impacting income metrics notably during 2024.