Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Broadcom Inc., consolidated income statement

US$ in millions

12 months ended:	Nov 3, 2024	Oct 29, 2023	Oct 30, 2022	Oct 31, 2021	Nov 1, 2020	Nov 3, 2019
Products	30,359)	27,891)	26,277)	20,886)	17,435)	18,117)
Subscriptions and services	21,215)	7,928)	6,926)	6,564)	6,453)	4,480)
Net revenue	51,574)	35,819)	33,203)	27,450)	23,888)	22,597)
Cost of products sold	(9,797)	(8,636)	(7,629)	(6,555)	(5,892)	(6,208)
Cost of subscriptions and services	(2,991)	(636)	(627)	(607)	(626)	(515)
Amortization of acquisition-related intangible assets	(6,023)	(1,853)	(2,847)	(3,427)	(3,819)	(3,314)
Restructuring charges	(254)	(4)	(5)	(17)	(35)	(77)
Cost of revenue	(19,065)	(11,129)	(11,108)	(10,606)	(10,372)	(10,114)
Gross margin	32,509)	24,690)	22,095)	16,844)	13,516)	12,483)
Research and development	(9,310)	(5,253)	(4,919)	(4,854)	(4,968)	(4,696)
Selling, general and administrative	(4,959)	(1,592)	(1,382)	(1,347)	(1,935)	(1,709)
Amortization of acquisition-related intangible assets	(3,244)	(1,394)	(1,512)	(1,976)	(2,401)	(1,898)
Restructuring and other charges	(1,533)	(244)	(57)	(148)	(198)	(736)
Operating expenses	(19,046)	(8,483)	(7,870)	(8,325)	(9,502)	(9,039)
Operating income	13,463)	16,207)	14,225)	8,519)	4,014)	3,444)
Interest expense	(3,953)	(1,622)	(1,737)	(1,885)	(1,777)	(1,444)
Interest income	461)	535)	100)	16)	53)	98)
Other income	21)	15)	30)	26)	56)	18)
Gain (loss) on investments	(12)	11)	(169)	99)	31)	145)
Other expense	(64)	(49)	(15)	(10)	(50)	(35)
Gain from lapse of indemnification	—)	—)	—)	—)	116)	—)
Other income (expense), net	406)	512)	(54)	131)	206)	226)
Income from continuing operations before income taxes	9,916)	15,097)	12,434)	6,765)	2,443)	2,226)
(Provision for) benefit from income taxes	(3,748)	(1,015)	(939)	(29)	518)	510)
Income from continuing operations	6,168)	14,082)	11,495)	6,736)	2,961)	2,736)
Loss from discontinued operations, net of income taxes	(273)	—)	—)	—)	(1)	(12)
Net income	5,895)	14,082)	11,495)	6,736)	2,960)	2,724)
Dividends on preferred stock	—)	—)	(272)	(299)	(297)	(29)
Net income attributable to common stock	5,895)	14,082)	11,223)	6,437)	2,663)	2,695)

Based on: 10-K (reporting date: 2024-11-03), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01), 10-K (reporting date: 2019-11-03).

Download chart

Income statement item	Description	The company
Net revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Broadcom Inc. net revenue increased from 2022 to 2023 and from 2023 to 2024.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Broadcom Inc. operating income increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Income from continuing operations before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Broadcom Inc. income from continuing operations before income taxes increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Broadcom Inc. net income increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Broadcom Inc. (NASDAQ:AVGO)

Income Statement