Stock Analysis on Net

Broadcom Inc. (NASDAQ:AVGO)

Income Statement 
Quarterly Data

Broadcom Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Aug 4, 2024 May 5, 2024 Feb 4, 2024 Oct 29, 2023 Jul 30, 2023 Apr 30, 2023 Jan 29, 2023 Oct 30, 2022 Jul 31, 2022 May 1, 2022 Jan 30, 2022 Oct 31, 2021 Aug 1, 2021 May 2, 2021 Jan 31, 2021 Nov 1, 2020 Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019 Feb 3, 2019 Nov 4, 2018 Aug 5, 2018 May 6, 2018 Feb 4, 2018
Products 7,439 7,192 7,412 7,151 6,917 6,741 7,082 7,180 6,627 6,417 6,053 5,758 5,064 4,983 5,081 4,853 4,125 4,253 4,204 4,647 4,413 4,418 4,639 5,114 4,783 4,749 5,108
Subscriptions and services 5,633 5,295 4,549 2,144 1,959 1,992 1,833 1,750 1,837 1,686 1,653 1,649 1,714 1,627 1,574 1,614 1,696 1,489 1,654 1,129 1,102 1,099 1,150 330 280 265 219
Net revenue 13,072 12,487 11,961 9,295 8,876 8,733 8,915 8,930 8,464 8,103 7,706 7,407 6,778 6,610 6,655 6,467 5,821 5,742 5,858 5,776 5,515 5,517 5,789 5,444 5,063 5,014 5,327
Cost of products sold (2,434) (2,429) (2,160) (2,285) (2,107) (2,019) (2,225) (2,141) (1,921) (1,798) (1,769) (1,763) (1,572) (1,548) (1,672) (1,602) (1,383) (1,448) (1,459) (1,678) (1,519) (1,457) (1,554) (1,720) (1,656) (1,672) (1,876)
Cost of subscriptions and services (699) (713) (954) (164) (165) (158) (149) (157) (156) (158) (156) (157) (157) (151) (142) (151) (154) (144) (177) (110) (132) (135) (138) (26) (24) (24) (23)
Purchase accounting effect on inventory (70)
Amortization of acquisition-related intangible assets (1,525) (1,516) (1,380) (438) (439) (441) (535) (705) (705) (707) (730) (849) (851) (853) (874) (962) (953) (954) (950) (827) (828) (826) (833) (762) (762) (765) (715)
Restructuring charges (58) (53) (92) (1) (1) (2) (1) (1) (1) (2) (1) (1) (15) (5) (15) (7) (8) (9) (2) (10) (56) (1) (2) (2) (15)
Cost of revenue (4,716) (4,711) (4,586) (2,888) (2,712) (2,618) (2,911) (3,004) (2,783) (2,664) (2,657) (2,769) (2,581) (2,553) (2,703) (2,720) (2,505) (2,553) (2,594) (2,624) (2,481) (2,428) (2,581) (2,509) (2,444) (2,463) (2,699)
Gross margin 8,356 7,776 7,375 6,407 6,164 6,115 6,004 5,926 5,681 5,439 5,049 4,638 4,197 4,057 3,952 3,747 3,316 3,189 3,264 3,152 3,034 3,089 3,208 2,935 2,619 2,551 2,628
Research and development (2,353) (2,415) (2,308) (1,388) (1,358) (1,312) (1,195) (1,197) (1,255) (1,261) (1,206) (1,200) (1,205) (1,238) (1,211) (1,182) (1,228) (1,269) (1,289) (1,177) (1,235) (1,151) (1,133) (948) (959) (936) (925)
Selling, general and administrative (1,100) (1,277) (1,572) (418) (388) (438) (348) (370) (323) (368) (321) (337) (346) (325) (339) (405) (428) (501) (601) (409) (410) (419) (471) (237) (234) (294) (291)
Amortization of acquisition-related intangible assets (812) (827) (792) (348) (350) (348) (348) (358) (359) (398) (397) (494) (494) (494) (494) (599) (600) (599) (603) (474) (475) (473) (476) (67) (68) (67) (339)
Restructuring and other charges (303) (292) (620) (13) (212) (9) (10) (15) (7) (18) (17) (26) (26) (25) (71) (35) (52) (54) (57) (38) (49) (76) (573) (17) (19) (53) (130)
Litigation settlements (14)
Operating expenses (4,568) (4,811) (5,292) (2,167) (2,308) (2,107) (1,901) (1,940) (1,944) (2,045) (1,941) (2,057) (2,071) (2,082) (2,115) (2,221) (2,308) (2,423) (2,550) (2,098) (2,169) (2,119) (2,653) (1,283) (1,280) (1,350) (1,685)
Operating income 3,788 2,965 2,083 4,240 3,856 4,008 4,103 3,986 3,737 3,394 3,108 2,581 2,126 1,975 1,837 1,526 1,008 766 714 1,054 865 970 555 1,652 1,339 1,201 943
Interest expense (1,064) (1,047) (926) (405) (406) (405) (406) (406) (406) (518) (407) (434) (415) (466) (570) (420) (464) (487) (406) (361) (362) (376) (345) (148) (149) (148) (183)
Impairment on investment (106)
Other income (expense), net 82 87 185 132 124 113 143 40 6 (86) (14) 22 15 (23) 117 31 49 130 (4) 54 41 63 68 24 39 46 35
Income from continuing operations before income taxes 2,806 2,005 1,342 3,967 3,574 3,716 3,840 3,620 3,337 2,790 2,687 2,169 1,726 1,486 1,384 1,137 593 409 304 747 544 657 278 1,422 1,229 1,099 795
(Provision for) benefit from income taxes (4,238) 116 (68) (443) (271) (235) (66) (261) (263) (200) (215) (180) 150 7 (6) 187 96 159 76 100 171 36 203 (307) (32) 2,637 5,786
Income (loss) from continuing operations (1,432) 2,121 1,274 3,524 3,303 3,481 3,774 3,359 3,074 2,590 2,472 1,989 1,876 1,493 1,378 1,324 689 568 380 847 715 693 481 1,115 1,197 3,736 6,581
Income (loss) from discontinued operations, net of income taxes (443) 51 (1) (5) 5 (2) (10) (1) (3) (15)
Net income (loss) (1,875) 2,121 1,325 3,524 3,303 3,481 3,774 3,359 3,074 2,590 2,472 1,989 1,876 1,493 1,378 1,324 688 563 385 847 715 691 471 1,115 1,196 3,733 6,566
Net income attributable to noncontrolling interest (15) (336)
Net income (loss) attributable to Broadcom Inc. stockholders (1,875) 2,121 1,325 3,524 3,303 3,481 3,774 3,359 3,074 2,590 2,472 1,989 1,876 1,493 1,378 1,324 688 563 385 847 715 691 471 1,115 1,196 3,718 6,230
Dividends on preferred stock (48) (75) (75) (74) (75) (74) (76) (74) (74) (74) (75) (74) (29)
Net income (loss) attributable to common stock (1,875) 2,121 1,325 3,524 3,303 3,481 3,774 3,311 2,999 2,515 2,398 1,914 1,802 1,417 1,304 1,250 614 488 311 818 715 691 471 1,115 1,196 3,718 6,230

Based on: 10-Q (reporting date: 2024-08-04), 10-Q (reporting date: 2024-05-05), 10-Q (reporting date: 2024-02-04), 10-K (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-29), 10-K (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-Q (reporting date: 2022-01-30), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-Q (reporting date: 2020-02-02), 10-K (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-Q (reporting date: 2019-02-03), 10-K (reporting date: 2018-11-04), 10-Q (reporting date: 2018-08-05), 10-Q (reporting date: 2018-05-06), 10-Q (reporting date: 2018-02-04).

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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Operating income The net result for the period of deducting operating expenses from operating revenues. Broadcom Inc. operating income increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Net income (loss) attributable to Broadcom Inc. stockholders The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Broadcom Inc. net income (loss) attributable to Broadcom Inc. stockholders increased from Q1 2024 to Q2 2024 but then decreased significantly from Q2 2024 to Q3 2024.