Broadcom Inc. (AVGO) Income Statement
AVGO FY2025 at a glance
Fiscal year ended October 31, 2025 · U.S. dollarsAVGO revenue and net income
Where AVGO's revenue goes
FY2025Each bar shows an amount and its share of revenue. AVGO kept 36.2% of revenue as net income.
AVGO profit margins
AVGO growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +23.9% | +24.4% | +21.7% | +25.1% |
| Gross profit | +33.2% | +25.1% | +26.2% | +28.4% |
| Operating income | +89.3% | +21.5% | +44.7% | +31.6% |
| Net income | +292.3% | +26.2% | +50.9% | +32.7% |
| EPS (diluted) | +40.3% | +22.0% | +25.3% | +22.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AVGO quarterly EPS vs estimates
Broadcom beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: December 10, 2026 (estimate $3.45).
AVGO income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $63.89B | $51.57B | $35.82B | $33.20B | $27.45B | $23.89B | $22.60B | $20.85B | $17.64B | $13.24B |
| Cost of revenue | $20.59B | $19.07B | $11.13B | $11.11B | $10.61B | $10.37B | $10.11B | $10.12B | $9.13B | $7.30B |
| Gross profit | $43.29B | $32.51B | $24.69B | $22.09B | $16.84B | $13.52B | $12.48B | $10.73B | $8.51B | $5.94B |
| Research & development | $10.98B | $9.31B | $5.25B | $4.92B | $4.85B | $4.97B | $4.70B | $3.77B | $3.29B | $2.67B |
| Sales, general & admin | $4.21B | $4.96B | $1.59B | $1.38B | $1.35B | $1.94B | $1.71B | $1.06B | $789.0M | $806.0M |
| Total operating expenses | $17.81B | $19.05B | $8.48B | $7.81B | $8.32B | $9.50B | $9.04B | $5.60B | $6.14B | $6.35B |
| Operating income | $25.48B | $13.46B | $16.21B | $14.22B | $8.52B | $4.01B | $3.44B | $5.13B | $2.37B | −$409.0M |
| Interest income | $347.0M | $461.0M | $535.0M | $100.0M | $16.0M | $53.0M | $98.0M | $114.0M | $44.0M | $10.0M |
| Interest expense | $3.21B | $3.95B | $1.62B | $1.74B | $1.89B | $1.78B | $1.44B | $628.0M | $454.0M | $585.0M |
| Income before taxes | $22.73B | $9.92B | $15.10B | $12.43B | $6.76B | $2.44B | $2.23B | $4.54B | $1.82B | −$1.11B |
| Income taxes | −$397.0M | $3.75B | $1.01B | $939.0M | $29.0M | −$518.0M | −$510.0M | −$8.08B | $35.0M | $642.0M |
| Net income | $23.13B | $5.89B | $14.08B | $11.49B | $6.74B | $2.96B | $2.72B | $12.26B | $1.69B | −$1.74B |
| EBITDA | $34.71B | $23.88B | $20.55B | $19.16B | $14.69B | $11.12B | $9.45B | $9.23B | $7.00B | $2.52B |
| EPS (diluted) | $6.82 | $4.86 | $4.22 | $3.76 | $2.80 | $2.21 | $2.13 | $2.08 | $1.60 | $1.13 |
| Gross margin | 67.8% | 63.0% | 68.9% | 66.5% | 61.4% | 56.6% | 55.2% | 51.5% | 48.2% | 44.9% |
| Operating margin | 39.9% | 26.1% | 45.2% | 42.8% | 31.0% | 16.8% | 15.2% | 24.6% | 13.4% | −3.1% |
| Net margin | 36.2% | 11.4% | 39.3% | 34.6% | 24.5% | 12.4% | 12.1% | 58.8% | 9.6% | −13.1% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.59B | $22.19B | $19.31B | $18.02B | $15.95B | $15.00B | $14.92B | $14.05B | $13.07B | $12.49B | $11.96B | $9.29B |
| Cost of revenue | $9.13B | $6.77B | $6.15B | $5.77B | $5.25B | $4.81B | $4.77B | $5.05B | $4.72B | $4.71B | $4.59B | $2.89B |
| Gross profit | $20.46B | $15.41B | $13.16B | $12.25B | $10.70B | $10.20B | $10.14B | $9.00B | $8.36B | $7.78B | $7.38B | $6.41B |
| Research & development | $2.90B | $3.00B | $2.96B | $2.98B | $3.05B | $2.69B | $2.25B | $2.23B | $2.35B | $2.42B | $2.31B | $1.39B |
| Sales, general & admin | $996.0M | $1.05B | $1.02B | $1.11B | $1.07B | $1.08B | $949.0M | $1.01B | $1.10B | $1.28B | $1.57B | $418.0M |
| Total operating expenses | $4.40B | $4.56B | $4.49B | $4.74B | $4.82B | $4.37B | $3.88B | $4.38B | $4.57B | $4.81B | $5.29B | $2.15B |
| Operating income | $16.06B | $10.86B | $8.67B | $7.51B | $5.89B | $5.83B | $6.26B | $4.63B | $3.79B | $2.96B | $2.08B | $4.24B |
| Interest expense | $778.0M | $776.0M | $801.0M | $761.0M | $754.0M | $769.0M | $873.0M | $864.0M | $1.06B | $1.05B | $926.0M | $405.0M |
| Income before taxes | $15.28B | $10.13B | $8.20B | $6.87B | $5.29B | $5.08B | $5.49B | $3.76B | $2.81B | $2.00B | $1.34B | $3.97B |
| Income taxes | $2.19B | $820.0M | $846.0M | −$1.65B | $1.15B | $120.0M | −$13.0M | −$442.0M | $4.24B | −$116.0M | $68.0M | $443.0M |
| Net income | $13.09B | $9.31B | $7.35B | $8.52B | $4.14B | $4.96B | $5.50B | $4.32B | −$1.88B | $2.12B | $1.32B | $3.52B |
| EBITDA | $18.27B | $13.07B | $11.15B | $9.86B | $8.03B | $10.19B | $8.54B | $7.29B | $6.39B | $5.58B | $4.61B | $5.30B |
| EPS (diluted) | $3.03 | $2.44 | $2.05 | $1.95 | $1.69 | $1.58 | $1.60 | $1.42 | $1.24 | $1.10 | $1.10 | $1.11 |
| Gross margin | 69.1% | 69.5% | 68.1% | 68.0% | 67.1% | 68.0% | 68.0% | 64.1% | 63.9% | 62.3% | 61.7% | 68.9% |
| Operating margin | 54.3% | 48.9% | 44.9% | 41.7% | 36.9% | 38.8% | 42.0% | 32.9% | 29.0% | 23.7% | 17.4% | 45.6% |
| Net margin | 44.2% | 42.0% | 38.1% | 47.3% | 26.0% | 33.1% | 36.9% | 30.8% | −14.3% | 17.0% | 11.1% | 37.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AVGO's financial statements (latest annual report filed December 18, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AVGO financial results
In fiscal year 2025 (ended October 31, 2025), Broadcom reported revenue of $63.9 billion, up 23.9% from the year before. It had net income of $23.1 billion (up 292.3%), a net profit margin of 36.2%. Diluted earnings per share came to $6.82. Over five years revenue grew at an average rate of 21.7% a year.
See the AVGO stock overview for the latest quote and news, or the AVGO chart for price history and technical indicators.
AVGO income statement FAQ
What is Broadcom's annual revenue?
Broadcom reported total revenue of $63.9 billion for fiscal year 2025, which ended on October 31, 2025. That was up 23.9% from $51.6 billion the previous year.
Is Broadcom profitable?
Yes. Broadcom reported net income of $23.1 billion in fiscal 2025, a net profit margin of 36.2%; its operating margin was 39.9%.
What is Broadcom's gross margin?
Broadcom's gross margin was 67.8% in fiscal 2025: for every $100 of revenue, Broadcom kept $68 after the direct cost of its products and services.
How much does Broadcom spend on research and development?
Broadcom spent $11.0 billion on research and development in fiscal 2025, 17.2% of revenue.
How fast is Broadcom growing?
Revenue grew 21.7% a year on average over the last five fiscal years, from $23.9 billion to $63.9 billion.
What are Broadcom's earnings per share?
Broadcom earned $6.82 per diluted share in fiscal 2025, compared with $4.86 a year earlier.
When will Broadcom report its next earnings?
Broadcom is expected to report results for the quarter ending October 31, 2026 on December 10, 2026.
When does Broadcom's fiscal year end?
Broadcom's fiscal year ends in October. The latest annual report covers the year ended October 31, 2025 and was filed on December 18, 2025.