Filing Flows › Broadcom (AVGO) › Q2 FY26 › vs Q2 FY25
Broadcom (AVGO) Q2 FY26 vs Q2 FY25 (year over year)
Broadcom's revenue rose $7.2B (+48%) from $15.0B in Q2 FY25 to $22.2B in Q2 FY26. The biggest changes: Products +$6.6B (+64%); Subscriptions and services +$600M (+13%). Gross margin 69.5% against 68.0% (+1.5 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 Q2 FY25, the increases inside each band.
Margins
| Q2 FY26 | Q2 FY25 | Change | |
|---|---|---|---|
| Gross margin | 69.5% | 68.0% | +1.5 pts |
| Operating margin | 48.6% | 38.8% | +9.8 pts |
| Net margin | 42.0% | 33.1% | +8.9 pts |
| Free cash flow margin | 46.3% | 42.7% | +3.5 pts |
Every line
| Line | Q2 FY26 | Q2 FY25 | Change | % |
|---|---|---|---|---|
| Products | $16.9B | $10.3B | $6.6B | +64% |
| Subscriptions and services | $5.3B | $4.7B | $600M | +13% |
| Revenue | $22.2B | $15.0B | $7.2B | +48% |
| Gross profit | $15.4B | $10.2B | $5.2B | +51% |
| Cost of revenue | $6.8B | $4.8B | $2.0B | +41% |
| Operating profit | $10.8B | $5.8B | $5.0B | +85% |
| Operating expenses | $4.6B | $4.4B | $259M | +6% |
| Pre-tax earnings | $10.1B | $5.1B | $5.0B | +99% |
| Other expense, net | $658M | $744M | −$86.0M | -12% |
| Research & development | $3.0B | $2.7B | $302M | +11% |
| SG&A | $1.1B | $1.1B | −$28.0M | -3% |
| Other operating costs | $577M | $592M | −$15.0M | -3% |
| Net earnings | $9.3B | $5.0B | $4.3B | +88% |
| Income tax | $820M | $120M | $700M | +583% |
| Depreciation & amortization | $2.1B | $2.1B | −$1.0M | 0% |
| Share-based compensation | $2.1B | $1.8B | $321M | +18% |
| Working capital & other | $3.0B | $2.3B | $727M | +31% |
| Operating cash flow | $10.5B | $6.6B | $3.9B | +60% |
| Free cash flow (OCF − capex) | $10.3B | $6.4B | $3.9B | +60% |
| Capital expenditures | $231M | $144M | $87.0M | +60% |
Questions
How much did Broadcom's revenue grow year over year in Q2 FY26?
Broadcom's revenue rose $7.2B (+48%) from $15.0B in Q2 FY25 to $22.2B in Q2 FY26.
What drove Broadcom's revenue change in Q2 FY26?
Products +$6.6B (+64%); Subscriptions and services +$600M (+13%).