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.

Broadcom Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	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	Nov 3, 2019	Aug 4, 2019	May 5, 2019	Feb 3, 2019
Products	8,506)	8,171)	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)	4,647)	4,413)	4,418)	4,639)
Subscriptions and services	6,498)	6,745)	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)	1,129)	1,102)	1,099)	1,150)
Net revenue	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)	5,776)	5,515)	5,517)	5,789)
Cost of products sold	(2,720)	(2,693)	(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)	(1,678)	(1,519)	(1,457)	(1,554)
Cost of subscriptions and services	(576)	(580)	(625)	(699)	(713)	(954)	(164)	(165)	(158)	(149)	(157)	(156)	(158)	(156)	(157)	(157)	(151)	(142)	(151)	(154)	(144)	(177)	(110)	(132)	(135)	(138)
Amortization of acquisition-related intangible assets	(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)	(827)	(828)	(826)	(833)
Restructuring charges	(28)	(14)	(51)	(58)	(53)	(92)	(1)	(1)	—)	(2)	(1)	(1)	(1)	(2)	—)	(1)	(1)	(15)	(5)	(15)	(7)	(8)	(9)	(2)	(10)	(56)
Cost of revenue	(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)	(2,624)	(2,481)	(2,428)	(2,581)
Gross margin	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)	3,152)	3,034)	3,089)	3,208)
Research and development	(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)	(1,177)	(1,235)	(1,151)	(1,133)
Selling, general and administrative	(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)	(409)	(410)	(419)	(471)
Amortization of acquisition-related intangible assets	(506)	(511)	(813)	(812)	(827)	(792)	(348)	(350)	(348)	(348)	(358)	(359)	(398)	(397)	(494)	(494)	(494)	(494)	(599)	(600)	(599)	(603)	(474)	(475)	(473)	(476)
Restructuring and other charges	(86)	(172)	(318)	(303)	(292)	(620)	(13)	(212)	(9)	(10)	(15)	(7)	(18)	(17)	(26)	(26)	(25)	(71)	(35)	(52)	(54)	(57)	(38)	(49)	(76)	(573)
Operating expenses	(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)	(2,098)	(2,169)	(2,119)	(2,653)
Operating income	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)	1,054)	865)	970)	555)
Interest expense	(769)	(873)	(916)	(1,064)	(1,047)	(926)	(405)	(406)	(405)	(406)	(406)	(406)	(518)	(407)	(434)	(415)	(466)	(570)	(420)	(464)	(487)	(406)	(361)	(362)	(376)	(345)
Other income (expense), net	25)	103)	52)	82)	87)	185)	132)	124)	113)	143)	40)	6)	(86)	(14)	22)	15)	(23)	117)	31)	49)	130)	(4)	54)	41)	63)	68)
Income from continuing operations before income taxes	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)	747)	544)	657)	278)
(Provision for) benefit from income taxes	(120)	13)	442)	(4,238)	116)	(68)	(443)	(271)	(235)	(66)	(261)	(263)	(200)	(215)	(180)	150)	7)	(6)	187)	96)	159)	76)	100)	171)	36)	203)
Income (loss) from continuing operations	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)	847)	715)	693)	481)
Income (loss) from discontinued operations, net of income taxes	—)	—)	119)	(443)	—)	51)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1)	(5)	5)	—)	—)	(2)	(10)
Net income (loss)	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)	847)	715)	691)	471)
Dividends on preferred stock	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(48)	(75)	(75)	(74)	(75)	(74)	(76)	(74)	(74)	(74)	(75)	(74)	(29)	—)	—)	—)
Net income (loss) attributable to common stock	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)	818)	715)	691)	471)

Revenue Trends: Net revenue shows a general upward trend from 5,789 million USD in early 2019 to 15,004 million USD by mid-2025, indicating substantial growth over the observed periods. The product segment remained the largest contributor, increasing from approximately 4,639 million USD to 8,506 million USD. Subscriptions and services revenue experienced remarkable growth, especially from 2021 onward, peaking sharply around early 2024 with over 6,745 million USD, suggesting a successful scaling of recurring revenue streams.
Cost of Revenue and Gross Margin: The cost of revenue steadily increased alongside revenue, rising from about 2,581 million USD to around 4,807 million USD, with cost of products sold and cost of subscriptions/services both increasing. Despite rising costs, gross margin expanded considerably from 3,208 million USD to over 10,197 million USD, reflecting improving profitability and operational leverage over time.
Operating Expenses: Operating expenses exhibited some fluctuations but generally remained within the 2,100 to 2,600 million USD range in earlier years before significantly rising to between 3,885 and 5,292 million USD by 2024-2025. Research and development costs increased moderately from about 1,133 million USD to peaks above 2,600 million USD, implying ongoing investment in innovation. Selling, general and administrative expenses remained relatively stable in earlier years but decreased notably during the mid-2020s period, suggesting cost management efforts.
Operating Income: Operating income displayed strong growth from 555 million USD in early 2019 to a peak of approximately 6,260 million USD in early 2025, illustrating enhanced operational efficiency and business scaling. However, a decline is visible post-peak, falling to around 5,829 million USD by mid-2025, potentially indicating increasing costs or market pressures.
Non-Operating Items: Interest expense generally rose from 345 million USD to just under 1,100 million USD over the timeframe but showed a slight decline in the latest periods. Other income fluctuated, spiking positively at multiple points, which may indicate occasional gains or favorable non-operational financial activities.
Profitability Metrics: Income from continuing operations before income taxes surged from 278 million USD to over 5,000 million USD by mid-2025. The provision for income taxes varied substantially, with some quarters showing tax benefits and others significant tax provisions. Net income attributable to common stock rose considerably from 471 million USD to nearly 5,000 million USD, although there was a notable dip into negative territory in one period, indicating a temporary loss likely from extraordinary items.
Additional Charges: Amortization of acquisition-related intangible assets remained considerable and persistent throughout the periods, starting near 833 million USD for product-related costs and around 476 million USD for operating expenses. Restructuring charges and other related costs were intermittent but contributed to expense volatility at certain points, particularly in the early and mid-2020s.
Overall Analysis: The data reveals a company experiencing consistent growth in revenues, particularly in subscriptions and services, which supports diversification and recurring income. Profit margins improved despite increasing costs, reflecting operational efficiencies and effective cost management. Investment in research and development remained strong, supporting long-term innovation. Fluctuations in tax provisions and occasional restructuring charges introduced some volatility in net income. Despite a few periods of loss, the overall financial health and profitability showed positive momentum through the latter periods.

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Broadcom Inc. (NASDAQ:AVGO)

Income StatementQuarterly Data

Income Statement
Quarterly Data