Broadcom Inc.
Revenue
$22B
Net Income
$9B
Broadcom Inc.
Revenue
$22B
Net Income
$9B
Broadcom Inc.
CIK: 0001730168
Earnings Analysis
Analyzed 6 of 12 reports
Performance Summary - Q1 2026bullish (92)not_provided
Reality-Based Sentiment Analysisbullish92/100
Based on actual market data, not just management spin. Weighted score: 10% management tone + 40% earnings beat/miss + 30% price action + 20% guidance accuracy.
Financial Performance Trend
Overall Analysis & Outlook
Over the past 5 quarters, Broadcom Inc. has been showing mixed sentiment with stable guidance. Revenue has grown 150% during this period. The latest quarter shows bullish sentiment with neutral tone from management.
Latest Quarter Highlights:
Broadcom delivered strong Q1 FY2026 results with revenue of $22.2B (48% YoY growth) and net income of $9.3B (87% YoY growth), driven by exceptional demand for AI-related semiconductor solutions including custom AI accelerators and networking products. The company demonstrated robust operational cash flow of $10.5B and maintained strong gross margins of 69%, while securing a significant $164.6B in remaining performance obligations with approximately 30% expected to be recognized within 12 months. Management is aggressively returning capital with $8.5B in share repurchases and $6.2B in dividends during the first half, while also entering into a $29B maximum backstop agreement for customer AI infrastructure commitments.
Detailed Quarterly Reports
In-depth analysis of each quarter's earnings filing
Q1 2026
10-Q • Filed 6/9/2026
Summary
Broadcom delivered strong Q1 FY2026 results with revenue of $22.2B (48% YoY growth) and net income of $9.3B (87% YoY growth), driven by exceptional demand for AI-related semiconductor solutions including custom AI accelerators and networking products. The company demonstrated robust operational cash flow of $10.5B and maintained strong gross margins of 69%, while securing a significant $164.6B in remaining performance obligations with approximately 30% expected to be recognized within 12 months. Management is aggressively returning capital with $8.5B in share repurchases and $6.2B in dividends during the first half, while also entering into a $29B maximum backstop agreement for customer AI infrastructure commitments.
Revenue
$22.19B
Net Income
$9.31B
Guidance
Tone
Capex
$481M(+97.1% YoY)
Partnerships
Key Quotes
"Certain multi-year customer contracts in our semiconductor solutions segment and infrastructure software segment, including contracts where customers do not have termination rights, contain firmly committed amounts and the remaining performance obligations under these contracts as of May 3, 2026 were approximately $164.6 billion."
"We expect approximately 30% of this amount to be recognized as revenue over the next 12 months."
"Net revenue from our semiconductor solutions segment increased in the fiscal quarter and two fiscal quarters ended May 3, 2026 compared to the prior year fiscal periods due to strong demand for our networking solutions, primarily custom AI accelerators and AI networking products."
Q2 2025
10-Q • Filed 9/10/2025
Summary
Broadcom delivered strong Q2 FY2025 results with revenue of $15.95B (+22% YoY) and net income of $4.14B, driven by robust demand for AI-related semiconductor solutions and infrastructure software products. The company demonstrated strong operational leverage with 67% gross margins and generated $7.17B in operating cash flow, while maintaining disciplined capital allocation through debt refinancing and dividends. Management execution appears solid with cost discipline offsetting higher R&D investments, though customer concentration at 40% of revenue (with top distributor at 32%) presents ongoing risk.
Revenue
$15.95B
Net Income
$4.14B
Guidance
Tone
Capex
$386M(-9.4% YoY)
Key Quotes
"Net revenue from our semiconductor solutions segment increased in the fiscal quarter and three fiscal quarters ended August 3, 2025 compared to the prior year fiscal periods due to strong demand for our networking products, primarily custom AI accelerators and AI networking solutions."
"Gross margin was 67% and 68% of net revenue for the fiscal quarter and three fiscal quarters ended August 3, 2025, respectively, and 64% and 63% for the fiscal quarter and three fiscal quarters ended August 4, 2024, respectively."
"We expect aggregate sales to our top five end customers, through all channels, accounted for approximately 40% of our net revenue for each of the fiscal quarter and three fiscal quarters ended August 3, 2025."
Q1 2025
10-Q • Filed 6/11/2025
Summary
Broadcom delivered strong Q1 FY2025 results with 20% YoY revenue growth to $15.0B and net income of $4.9B, driven by robust demand for AI networking semiconductors and VMware Cloud Foundation software. The company achieved 68% gross margins while reducing headcount and cutting operating expenses, demonstrating excellent operational leverage. Strong cash generation of $6.6B in operating cash flow and $24.7B in committed remaining performance obligations provide confidence in near-term momentum.
Revenue
$15.00B
Net Income
$4.96B
Guidance
Tone
Capex
$244M(-3.9% YoY)
Key Quotes
"Net revenue from our semiconductor solutions segment increased in the fiscal quarter and two fiscal quarters ended May 4, 2025 compared to the prior year fiscal periods due to strong demand for our networking products, primarily AI networking solutions."
"Higher operating income from our infrastructure software segment in the fiscal quarter and two fiscal quarters ended May 4, 2025 compared to the prior year fiscal periods was primarily due to strong demand for our VCF product, including additional license revenue recognized on contracts where customers do not have the right to terminate and the transition to a subscription license model."
"Certain multi-year customer contracts in our semiconductor solutions segment and infrastructure software segment, including contracts where customers do not have termination rights, contain firmly committed amounts and the remaining performance obligations under these contracts as of May 4, 2025 were approximately $24.7 billion. We expect approximately 36% of this amount to be recognized as revenue over the next 12 months."
Q2 2024
10-Q • Filed 9/11/2024
Summary
Broadcom reported Q2 FY2024 revenue of $13.1B (+47% YoY), driven by the VMware acquisition which contributed $3.8B in revenue. However, the quarter showed significant profitability challenges with a net loss of $1.9B (vs. $3.3B net income in prior year), primarily due to a $4.2B discrete tax provision related to IP transfer and resulting deferred tax liability. Operating cash flow remained strong at $14.4B (9 months), but the company is undergoing substantial restructuring with $1.4B in charges and elevated integration expenses from the large VMware acquisition.
Revenue
$13.07B
Net Income
$-1,875M
Guidance
Tone
Capex
$426M(+22.8% YoY)
Partnerships
Key Quotes
"The VMware stockholders received approximately $30,788 million in cash and 544 million shares of Broadcom common stock with a fair value of $53,398 million."
"We recognized a discrete tax provision of $4,522 million during the fiscal quarter ended August 4, 2024 from the establishment of a deferred tax liability as a result of the book and tax basis difference on these transferred IP rights."
"We expect these restructuring activities to be substantially completed by the end of fiscal year 2025."
Q1 2024
10-Q • Filed 6/13/2024
Summary
Broadcom's Q1 FY2024 results show significant headwinds from VMware integration, with net income declining 39% YoY to $2.1B despite revenue growth to $12.5B driven by the November 2023 VMware acquisition. The company is undergoing major restructuring with $1.1B in integration charges across two quarters, raised debt materially to fund the $84B acquisition, and faces a discrete $4.9B tax charge post-quarter end from IP realignment, signaling execution risk and tax complications.
Revenue
$12.49B
Net Income
$2.12B
Guidance
Tone
Capex
$254M(+12.9% YoY)
Key Quotes
"We recognized $345 million and $1,057 million of restructuring charges primarily related to employee termination costs during the fiscal quarter and two fiscal quarters ended May 5, 2024"
"We estimate that we will recognize a discrete tax expense of up to $4.9 billion during the fiscal quarter ending August 4, 2024 from the establishment of a deferred tax liability as a result of the book and tax basis difference on these IP rights"
"Remaining performance obligations under these contracts as of May 5, 2024 were approximately $22.9 billion. We expect approximately 49% of this amount to be recognized as revenue over the next 12 months"
Q2 2023
10-Q • Filed 9/6/2023
Summary
Broadcom delivered Q2 FY2023 revenue of $8.876 billion and net income of $3.303 billion, with strong operating cash flow of $4.719 billion. The company demonstrated solid operational performance with 69% gross margins and strong growth in semiconductor solutions (particularly networking and server storage), though guidance was not provided in this 10-Q. Management is focused on closing the pending $61 billion VMware acquisition expected October 30, 2023.
Revenue
$8.88B
Net Income
$3.30B
Guidance
Tone
Capex
$347M(+14.9% YoY)
Partnerships
Key Quotes
"Net revenue from our semiconductor solutions segment increased in the fiscal quarter ended July 30, 2023 compared to the prior year fiscal period due to strong product demand, primarily for networking products."
"We believe aggregate sales to our top five end customers, through all channels, accounted for approximately 35% of our net revenue for each of the fiscal quarter and three fiscal quarters ended July 30, 2023."
"The VMware Merger, which is expected to be completed on October 30, 2023, is subject to satisfaction or waiver of customary closing conditions, including clearance under the antitrust laws of certain jurisdictions."
Sector Comparison
How AVGO performs vs Technology sector and Semiconductors peers
Sector Ranking (Technology)
Category Ranking (Semiconductors)
Key Metrics vs Averages
AVGO
$22,187M
Semiconductors Avg
$27,646.2M
Technology Avg
$27,570.096M
AVGO
97.1%
Semiconductors Avg
62.9%
Technology Avg
46.1%
Guidance: not_provided • Tone: neutral