Filing Flows › Broadcom (AVGO) › Q2 FY26 › vs Q1 FY26
Broadcom (AVGO) Q2 FY26 vs Q1 FY26 (quarter over quarter)
Broadcom's revenue rose $2.9B (+15%) from $19.3B in Q1 FY26 to $22.2B in Q2 FY26. The biggest changes: Products +$2.8B (+20%); Subscriptions and services +$114M (+2%). Gross margin 69.5% against 68.1% (+1.3 pts).
Broadcom, Q2 FY26: revenue $22.2B (+48% year over year), operating margin 48.6%, net earnings $9.3B, operating cash flow $10.5B. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Gross margin | 69.5% | 68.1% | +1.3 pts |
| Operating margin | 48.6% | 44.3% | +4.3 pts |
| Net margin | 42.0% | 38.1% | +3.9 pts |
| Free cash flow margin | 46.3% | 41.5% | +4.8 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Products | $16.9B | $14.1B | $2.8B | +20% |
| Subscriptions and services | $5.3B | $5.2B | $114M | +2% |
| Revenue | $22.2B | $19.3B | $2.9B | +15% |
| Gross profit | $15.4B | $13.2B | $2.3B | +17% |
| Cost of revenue | $6.8B | $6.2B | $618M | +10% |
| Operating profit | $10.8B | $8.6B | $2.2B | +26% |
| Operating expenses | $4.6B | $4.6B | $33.0M | +0.7% |
| Pre-tax earnings | $10.1B | $8.2B | $1.9B | +24% |
| Other expense, net | $658M | $368M | $290M | +79% |
| Research & development | $3.0B | $3.0B | $30.0M | +1% |
| SG&A | $1.1B | $1.0B | $36.0M | +4% |
| Other operating costs | $577M | $610M | −$33.0M | -5% |
| Net earnings | $9.3B | $7.3B | $2.0B | +27% |
| Income tax | $820M | $846M | −$26.0M | -3% |
| Depreciation & amortization | $2.1B | $2.1B | $11.0M | +0.5% |
| Share-based compensation | $2.1B | $2.2B | −$84.0M | -4% |
| Working capital & other | $3.0B | $3.4B | −$345M | -10% |
| Operating cash flow | $10.5B | $8.3B | $2.2B | +27% |
| Free cash flow (OCF − capex) | $10.3B | $8.0B | $2.3B | +28% |
| Capital expenditures | $231M | $250M | −$19.0M | -8% |
Questions
How much did Broadcom's revenue grow quarter over quarter in Q2 FY26?
Broadcom's revenue rose $2.9B (+15%) from $19.3B in Q1 FY26 to $22.2B in Q2 FY26.
What drove Broadcom's revenue change in Q2 FY26?
Products +$2.8B (+20%); Subscriptions and services +$114M (+2%).