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.
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
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.
