Summary
Broadcom Inc. reported strong performance for the fiscal year ended November 2, 2025, with net revenue increasing by 24% year-over-year to $63.9 billion. This growth was driven by robust demand across both its Semiconductor Solutions and Infrastructure Software segments, with increases of 22% and 26% respectively. The company's operating income saw a significant improvement, more than doubling to $25.5 billion, reflecting improved gross margins and effective cost management, particularly lower selling, general, and administrative expenses. The acquisition of VMware continues to be a significant factor, with the Infrastructure Software segment showing strong demand for products like VMware Cloud Foundation. The Semiconductor Solutions segment benefited from strong demand in networking, specifically custom AI accelerators and AI networking products. Broadcom also demonstrated a commitment to returning capital to shareholders, with significant cash generated from operations ($27.5 billion) used for dividends and stock repurchases, while also managing its substantial debt load.
Financial Highlights
56 data points| Revenue | $63.89B |
| Cost of Revenue | $20.59B |
| Gross Profit | $43.29B |
| R&D Expenses | $10.98B |
| SG&A Expenses | $4.21B |
| Operating Expenses | $17.81B |
| Operating Income | $25.48B |
| Net Income | $23.13B |
| EPS (Basic) | $4.91 |
| EPS (Diluted) | $4.77 |
| Shares Outstanding (Basic) | 4.71B |
| Shares Outstanding (Diluted) | 4.85B |
Key Highlights
- 1Net revenue surged by 24% to $63.9 billion, driven by strong performance in both Semiconductor Solutions ($36.9B, +22%) and Infrastructure Software ($27.0B, +26%).
- 2Operating income more than doubled to $25.5 billion, with an operating margin expanding to 40% from 26% in the prior year.
- 3Gross margin improved to 68% from 63%, attributed to higher software revenue, strong AI semiconductor demand, and improved infrastructure software margins post-VMware integration.
- 4The company generated $27.5 billion in cash from operations, supporting significant capital returns to shareholders.
- 5Broadcom paid $11.1 billion in dividends and repurchased $2.5 billion of common stock during the fiscal year.
- 6Despite substantial debt, interest expense decreased due to debt refinancing and reduction in outstanding balances.