Short answer
Broadcom (AVGO) filed its Q3 2025 10-Q quarterly report on Sep 10, 2025 for the quarter ended Aug 3, 2025. Quarterly revenue was $16.0B (up 22.0% year over year) with net income of $4.1B.
Q3 2025 key financials · XBRL
- Revenue
- $16.0B
- +22.0% YoY · +6.3% QoQ
- Net income
- $4.1B
- +320.8% YoY · −16.6% QoQ
- Operating margin
- 36.9%
- Gross margin
- 67.1%
- EPS (diluted)
- $0.85
- +112.2% YoY · −17.5% QoQ
Source: XBRL data from the Broadcom (AVGO) Q3 2025 10-Q on SEC EDGAR. USD.
Broadcom Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $15,952M Q2 FY25, up 22.0% from $13,072M Q2 FY24; three quarters revenue $45,872M, up 22.3% YoY
- Operating margin 36.9% Q2 FY25 ($5,887M operating income on $15,952M revenue) vs 29.0% Q2 FY24 ($3,788M on $13,072M); three quarters margin 39.2% vs 23.5% YoY
- Best segment: Infrastructure software operating income up 34.1% Q2 to $5,238M; worst: Unallocated expenses increased 10% Q2 to $4,568M
- Cash from operations $7,166M for quarter; ended Q2 FY25 with $10,718M cash & equivalents, up from $9,348M at FY24 end
- Management notes strong AI accelerator/networking demand; raised dividends and authorized $10B stock repurchase program through Dec 2025
Risk Factors
- New risk: Increased AI-driven cyber-attack sophistication linked to generative automation and deep fake impersonation technology emerging as novel cybersecurity threats
- Material update: Suppliers' concentration intensified with TSMC producing ~95% of wafers, raising supply chain risk and pricing vulnerability due to capacity prioritization and price increases
- Regulatory/legal risk: Ongoing and potential investigations by FTC, Korea, Japan, EU on contracting practices raise risk of fines, sales bans, or mandates altering business conduct
- Operational risk: Customer concentration remains high with 47% net revenue from distributors and ~40% from top 5 end customers, impacting near-term demand and credit risk exposure
- Financial risk: Substantial indebtedness at $66.257 billion limits flexibility, increases vulnerability to market downturns, and requires significant cash flow for debt service
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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