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Broadcom (AVGO) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Mar 11, 2026
Broadcom (AVGO) reported revenue of $19.3B for the first quarter fiscal 2026 (Q1 FY26), +29% from a year earlier and +7% from the quarter before. Operating margin was 44.3%, net earnings $7.3B (38.1% of revenue).
Broadcom, Q1 FY26: revenue $19.3B (+30% year over year), operating margin 44.3%, net earnings $7.3B, operating cash flow $8.3B. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.3B | +7% | +29% |
| Gross profit | $13.2B | +7% | +30% |
| Operating profit | $8.6B | +14% | +37% |
| Net earnings | $7.3B | -14% | +34% |
| Operating cash flow | $8.3B | +7% | +35% |
| Free cash flow | $8.0B | +7% | +33% |
What changed
Revenue was $19.3B in Q1 FY26, up 29% year over year and up 7% from the previous quarter. Products was the largest line at 73% of revenue. Products added $4.0B year over year (up 39%), 91% of the total change.
Gross margin was 68.1%, up 0.1 points from a year earlier. Operating profit was $8.6B, a 44.3% margin (up 2.4 points year over year). Of the extra revenue versus a year earlier, 52% reached operating profit, above the 42% margin then. Operating expenses grew 18% against revenue growth of 29%. The fastest-growing cost line was Research & development (+32%). Net earnings were $7.3B, up 34% year over year. The effective tax rate was 10.3%.
Operating cash flow was $8.3B (up 35% year over year), 112% of net earnings. Non-cash charges added back $2.1B of depreciation and amortization and $2.2B of share-based compensation. Working capital and other items used $3.4B. Capital expenditures of $0.25B left free cash flow of $8.0B.
Questions
What was Broadcom's revenue in the first quarter fiscal 2026?
Broadcom (AVGO) reported revenue of $19.3B for the first quarter fiscal 2026 (Q1 FY26), +29% from a year earlier and +7% from the quarter before.
Was Broadcom profitable in the first quarter fiscal 2026?
Operating profit was $8.6B (44.3% of revenue) and net earnings $7.3B.
Source: Broadcom 10-Q on SEC EDGAR.