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How Broadcom (AVGO) makes money: Q3 FY2026 revenue breakdown
US GAAP · $M · vs Q3 FY2025 · quarter ended 08/02/2026 (fiscal year is shifted) · reported 09/02/2026
Broadcom Inc. is an American multinational designer, developer, manufacturer, and global supplier of a wide range of semiconductor and infrastructure software products. · Wikipedia
More about the company
Broadcom's product offerings serve the data center, networking, software, broadband, wireless, storage, and industrial markets. As of 2026, Broadcom is one of the largest companies globally.
Key growth driver: Semiconductor Solutions — the fastest-growing revenue line: $20,839, +127% y/y. · by the Q3 FY2026 report
How does Broadcom make money?
Broadcom brought in $29.6 billion of revenue in Q3 FY2026, up 86% year over year. The largest source was Semiconductor Solutions: $20.8 billion, or 70% of the total, followed by Infrastructure Software ($8.75B, 30%). Net income for the quarter was $13.1 billion, up 216% year over year.
Revenue by source, Q3 FY2026
- Semiconductor Solutions$20.8B · 70% · +127%
- Infrastructure Software$8.75B · 30% · +29%
Shares of $29.6B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is AVGO’s next earnings date?
Thursday, December 10, 2026estimated
Broadcom (AVGO) has not announced the date yet.
How we estimate
Our estimate: Dec 10, 2026 — exactly 52 weeks after the same-quarter report a year ago (Dec 11, 2025, per its SEC filing). Companies usually keep the same week; the date will be replaced once AVGO confirms it.
What time does AVGO report? Usually after market close: the last 4 results releases reached the SEC at 4:26 pm, 4:21 pm, 4:16 pm, 4:17 pm ET.
Last report: Sep 2, 2026 (Q3 FY2026) — broken down in the Sankey chart below. Who else reports this week →
All figures in $M.
Revenue
$29,591
+86%
Gross profit
$20,456
+91%
69.1% margin
Operating income
$15,955
+171%
53.9% margin
Net income
$13,088
+216%
EPS diluted $2.68
Verdict: a blowout quarter — revenue jumped 86% to a record $29.6B (+33% sequentially) as AI semiconductor revenue hit $16.7B (+221% y/y), and with operating expenses actually falling y/y, GAAP operating income nearly tripled to $16.0B and net income more than tripled to $13.1B; Q4 guidance of ≈$34.8B (+93%) says the ramp is still accelerating.
OCF $14,197M; capex $532M; FCF $13,665M (46% of revenue); dividend $0.65/share ($3,103M paid); no buybacks this quarter; cash $24.0B; Q4 FY26 revenue guidance ≈$34.8B (+93% y/y) with non-GAAP operating margin ≈66%.
Source and notation
* marks non-cash / ≈ estimated. Source: Broadcom Inc. 8-K press release for the fiscal quarter ended August 2, 2026 (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
Company reports
AVGO earnings history: past report dates
| Sep 2, 2026 Wed | 4:26 pmafter market close | Aug 2, 2026 | $29.6B+86% y/y | $2.68+215% y/y |
| Jun 3, 2026 Wed | 4:21 pmafter market close | May 3, 2026 | $22.2B+48% y/y | $1.91+85% y/y |
| Mar 4, 2026 Wed | 4:16 pmafter market close | Feb 1, 2026 | $19.3B+29% y/y | $1.50+32% y/y |
| Dec 11, 2025 Thu | 4:17 pmafter market close | Nov 2, 2025 | ≈$18.0B+28% y/y | ≈$1.75+92% y/y |
| Sep 4, 2025 Thu | 4:19 pmafter market close | Aug 3, 2025 | $16.0B+22% y/y | $0.85 |
| Jun 5, 2025 Thu | 4:27 pmafter market close | May 4, 2025 | $15.0B+20% y/y | $1.03+134% y/y |
| Mar 6, 2025 Thu | 4:19 pmafter market close | Feb 2, 2025 | $14.9B+25% y/y | $1.14+307% y/y |
| Dec 12, 2024 Thu | 4:23 pmafter market close | Nov 3, 2024 | ≈$14.1B+51% y/y | ≈$0.91+10% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Broadcom: 5-year financials
| FY2025 | 63,887 | 25,484 | 23,126 | 26,914 | 11,142 |
| FY2024 | 51,574 | 13,463 | 5,895 | 19,414 | 9,814 |
| FY2023 | 35,819 | 16,207 | 14,082 | 17,633 | 7,645 |
| FY2022 | 33,203 | 14,225 | 11,495 | 16,312 | 6,733 |
| FY2021 | 27,450 | 8,519 | 6,437 | 13,321 | 5,913 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP); the company’s fiscal year doesn’t match the calendar year so years follow the company’s own labels.
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
1/2mixed
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Nov 2023To acquire VMware, Broadcom issued its own shares with a fair value of $53.4B. sec.gov ↗
- Nov 2025Diluted shares: 421M pre-split (4.21B post-split) in FY2020 → 4.85B in FY2025 (+15%). data.sec.gov ↗
- Dec 2025SBC of $7.57B = 11.8% of $63.9B revenue in FY2025; single class of common stock. sec.gov ↗
- Dec 2025The VMware investor class action over backlog disclosure (08/2018–02/2020) was settled; the court approved the settlement in 03/2025. sec.gov ↗
Scoring: 2.0 −0.5 (criterion 1: $53.4B of stock issued for VMware in 2023, shares +15% over 5 years, at market — M&A cap) −0.5 (criterion 1: SBC 11.8% of FY2025 revenue, >10%) = 1.0
- Share classes
- Single class of common stock (FY2025 10-K cover).
- Dilution
- Diluted shares 4.21B → 4.85B (+15%, adjusted for the 10:1 split) over FY2020–2025, mostly the issuance for VMware → −0.5; SBC of $7.57B = 11.8% of revenue → −0.5; total −1.0 (criterion cap).
- Disclosure
- Full US GAAP reporting: 10-K and 10-Q filed on EDGAR on time.
- Dividends
- Dividend raised every year ($13 per share pre-split in FY2020, with increases continuing after the 10:1 split in 2024); no suspensions or cuts.
- Lawsuits & regulators
- The FY2025 10-K lists no Broadcom shareholder suits or SEC cases; the VMware investor suit over backlog (2018–2020) was settled in 03/2025 — a pre-acquisition VMware episode, no deduction.
- Related parties
- No material related-party transactions disclosed in the 2026 proxy.
How the score works · checked as of Sep 2026
Broadcom (AVGO) earnings: FAQ
How does Broadcom make money?
Broadcom brought in $29.6 billion of revenue in Q3 FY2026, up 86% year over year. The largest source was Semiconductor Solutions: $20.8 billion, or 70% of the total, followed by Infrastructure Software ($8.75B, 30%). Net income for the quarter was $13.1 billion, up 216% year over year.
When is AVGO's next earnings date?
Broadcom (AVGO) has not announced the date yet. Based on last year's schedule (report on Dec 11, 2025), the next report is expected around Dec 10, 2026.
What time does AVGO report earnings?
Broadcom usually reports after market close: its latest results release was filed with the SEC at 4:26 pm ET on Sep 2, 2026.
When did AVGO last report earnings?
Broadcom reported Q3 FY2026 results on Sep 2, 2026.
Where can I find Broadcom's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to AVGO's filings; this page breaks the latest report down in a Sankey chart.
What was AVGO's net income in Q3 FY2026?
Broadcom reported net income of $13,088M for Q3 FY2026 (+216% year over year), under US GAAP.
Does Broadcom pay dividends?
Yes. In fiscal 2025, Broadcom paid $11,142M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
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How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 09/07/2026. How we make the breakdowns · Report an error
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