Broadcom Inc. Earnings Summary — Q2 2026

• Revenue surged 47.9% YoY to $22.19 billion, significantly driven by VMware accretion and AI infrastructure demand.
• Net Income saw a massive 87.5% YoY increase as operating leverage continues to improve post-merger integrations.
• Operating Income reached $10.79 billion, representing a record-level quarterly margin for the combined entity.
• R&D investment remains high at approximately $3 billion per quarter to maintain dominance in AI networking and custom silicon.
• Broadcom is successfully transitioning VMware assets toward high-margin recurring software models.
• The company maintains a unique position as a primary beneficiary of data center spend alongside NVIDIA.

Management remains focused on driving free cash flow per share growth, prioritizing the integration of high-margin software assets and scaling AI networking solutions like Jericho and Tomahawk chips.

Improving

Revenue and profit growth exploded this quarter (47.9% and 87.5% respectively) compared to the mid-20% ranges seen in previous 2025 quarters.

The outlook is highly favorable as Broadcom captures massive capital expenditure from CSPs for generative AI build-outs and realizes the full synergy potential of the VMware acquisition.