$AVGO

Broadcom Inc.

CIK:0001730168|SEC Filings

Condensed Consolidated Statements of Operations - Unaudited - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 02, 2026	Aug. 03, 2025	Aug. 02, 2026	Aug. 03, 2025
Net revenue:
Total net revenue	$ 29,591	$ 15,952	$ 71,089	$ 45,872
Cost of revenue:
Cost of products sold	6,983	3,098	15,689	8,515
Cost of subscriptions and services	641	606	1,915	1,758
Amortization of acquisition-related intangible assets	1,499	1,519	4,422	4,486
Restructuring charges	12	26	35	68
Total cost of revenue	9,135	5,249	22,061	14,827
Gross margin	20,456	10,703	49,028	31,045
Research and development	2,895	3,050	8,855	7,996
Selling, general and administrative	996	1,072	3,070	3,104
Amortization of acquisition-related intangible assets	507	507	1,520	1,524
Restructuring and other charges	103	187	277	445
Total operating expenses	4,501	4,816	13,722	13,069
Operating income	15,955	5,887	35,306	17,976
Interest expense	(778)	(807)	(2,355)	(2,449)
Other income, net	98	205	649	333
Income before income taxes	15,275	5,285	33,600	15,860
Income Tax Expense (Benefit)	2,187	1,145	3,853	1,252
Net income	$ 13,088	$ 4,140	$ 29,747	$ 14,608
Net income per share:
Basic	$ 2.75	$ 0.88	$ 6.26	$ 3.10
Diluted	$ 2.68	$ 0.85	$ 6.09	$ 3.02
Products
Net revenue:
Total net revenue	$ 24,279	$ 11,173	$ 55,301	$ 31,625
Subscriptions and services
Net revenue:
Total net revenue	$ 5,312	$ 4,779	$ 15,788	$ 14,247

Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($) $ in Millions	9 Months Ended
	Aug. 02, 2026	Aug. 03, 2025
Cash flows from operating activities:
Net income (loss)	$ 29,747	$ 14,608
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible and right-of-use assets	6,047	6,116
Depreciation	484	426
Stock-based compensation	6,287	5,373
Deferred taxes and other non-cash taxes	(1,051)	(983)
Loss on debt extinguishment	161	118
Non-cash interest expense	204	273
Other	31	58
Changes in assets and liabilities, net of acquisitions and disposals:
Trade accounts receivable, net	(6,544)	(2,066)
Inventory	(2,253)	(420)
Accounts payable	2,313	(236)
Employee compensation and benefits	(619)	(110)
Other current assets and current liabilities	(2,893)	(1,028)
Other long-term assets and long-term liabilities	1,036	(2,295)
Net cash provided by operating activities	32,950	19,834
Proceeds from sale of business	0	300
Cash flows from investing activities:
Purchases of property, plant and equipment	(1,013)	(386)
Purchases of investments	(756)	(261)
Sales of investments	320	147
Other	13	(13)
Net cash used in investing activities	(1,436)	(213)
Cash flows from financing activities:
Proceeds from long-term borrowings	4,474	10,695
Payments on debt obligations	(10,528)	(14,840)
Proceeds from Issuance of Commercial Paper	0	488
Payments of dividends	(9,281)	(8,345)
Repurchases of common stock - repurchase program	(8,450)	(2,450)
Shares repurchased for tax withholdings on vesting of equity awards	0	(3,860)
Issuance of common stock	113	118
Other	(45)	(57)
Net cash used in financing activities	(23,717)	(18,251)
Net change in cash and cash equivalents	7,797	1,370
Cash and cash equivalents at beginning of period	16,178	9,348
Cash and cash equivalents at end of period	23,975	10,718
Issuance of common stock	$ 113	$ 118

Condensed Consolidated Balance Sheets - Unaudited - USD ($) $ in Millions	Aug. 02, 2026	Nov. 02, 2025
Current assets:
Cash and cash equivalents	$ 23,975	$ 16,178
Trade accounts receivable, net	13,707	7,145
Inventory	4,523	2,270
Other current assets	9,968	5,980
Total current assets	52,173	31,573
Long-term assets:
Property, plant and equipment, net	3,144	2,530
Goodwill	97,801	97,801
Intangible assets, net	26,325	32,273
Other long-term assets	8,705	6,915
Total assets	188,148	171,092
Current liabilities:
Accounts payable	4,000	1,560
Employee compensation and benefits	1,506	2,129
Short-term debt	2,252	3,152
Other current liabilities	13,080	11,673
Total current liabilities	20,838	18,514
Long-term liabilities:
Long-term debt	57,167	61,984
Other long-term liabilities	10,453	9,302
Total liabilities	88,458	89,800
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, $0.001 par value; 100 shares authorized; none issued and outstanding	0	0
Common stock, $0.001 par value; 29,000 shares authorized; 4,774 and 4,741 shares issued and outstanding as of August 2, 2026 and November 2, 2025, respectively	5	5
Additional paid-in capital	77,330	71,308
Retained earnings	22,151	9,761
Accumulated other comprehensive income	204	218
Total stockholders’ equity	99,690	81,292
Total liabilities and equity	$ 188,148	$ 171,092