Filing Flows › Broadcom (AVGO) › Q3 FY26 › vs Q3 FY25
Broadcom (AVGO) Q3 FY26 vs Q3 FY25 (year over year)
Broadcom's revenue rose $13.6B (+86%) from $16.0B in Q3 FY25 to $29.6B in Q3 FY26. The biggest changes: Products +$13.1B (+117%); Subscriptions and services +$533M (+11%). Gross margin 69.1% against 67.1% (+2.0 pts).
Broadcom, Q3 FY26: revenue $29.6B (+86% year over year), operating margin 53.9%, net earnings $13.1B, operating cash flow $14.2B. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 69.1% | 67.1% | +2.0 pts |
| Operating margin | 53.9% | 36.9% | +17.0 pts |
| Net margin | 44.2% | 26.0% | +18.3 pts |
| Free cash flow margin | 46.2% | 44.0% | +2.1 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Products | $24.3B | $11.2B | $13.1B | +117% |
| Subscriptions and services | $5.3B | $4.8B | $533M | +11% |
| Revenue | $29.6B | $16.0B | $13.6B | +86% |
| Gross profit | $20.5B | $10.7B | $9.8B | +91% |
| Cost of revenue | $9.1B | $5.2B | $3.9B | +74% |
| Operating profit | $16.0B | $5.9B | $10.1B | +171% |
| Operating expenses | $4.5B | $4.8B | −$315M | -7% |
| Pre-tax earnings | $15.3B | $5.3B | $10.0B | +189% |
| Other expense, net | $680M | $602M | $78.0M | +13% |
| Research & development | $2.9B | $3.0B | −$155M | -5% |
| SG&A | $996M | $1.1B | −$76.0M | -7% |
| Other operating costs | $610M | $694M | −$84.0M | -12% |
| Net earnings | $13.1B | $4.1B | $8.9B | +216% |
| Income tax | $2.2B | $1.1B | $1.0B | +91% |
| Depreciation & amortization | $2.2B | $2.2B | $9.0M | +0.4% |
| Share-based compensation | $2.0B | $2.3B | −$303M | -13% |
| Working capital & other | $3.1B | $1.5B | $1.6B | +111% |
| Operating cash flow | $14.2B | $7.2B | $7.0B | +98% |
| Free cash flow (company-reported) | $13.7B | $7.0B | $6.6B | +95% |
| Purchases of property, plant and equipment | $532M | $142M | $390M | +275% |
Questions
How much did Broadcom's revenue grow year over year in Q3 FY26?
Broadcom's revenue rose $13.6B (+86%) from $16.0B in Q3 FY25 to $29.6B in Q3 FY26.
What drove Broadcom's revenue change in Q3 FY26?
Products +$13.1B (+117%); Subscriptions and services +$533M (+11%).