A summary of Broadcom’s five-year annual income statements (fiscal years ending October, 2021–2025) and its latest five quarterly income statements (ending April 2025 through April 2026).
**Five‑Year Annual Summary (2021–2025)**
Over the past five fiscal years, Broadcom has more than doubled its revenue, rising from $27.45 billion in 2021 to $63.89 billion in 2025. This growth was driven first by robust semiconductor demand and then turbocharged by the acquisition of VMware in late 2023. Revenue growth fluctuated: a 20.96% increase in 2022, a slower 7.88% in 2023, then a sharp 43.99% jump in 2024 as VMware started to consolidate, followed by a still‑strong 23.87% in 2025. Gross profit margin improved to 64.71% by 2025. Operating leverage is evident in EBITDA, which grew from $14.73 billion in 2021 to $34.93 billion in 2025, with the EBITDA margin reaching 54.67%. Net income was more volatile: it increased from $6.74 billion in 2021 to $14.08 billion in 2023, then plunged to $6.17 billion in 2024 due to one‑time acquisition‑related costs (especially a surge in SG&A and amortization of intangibles). In 2025, net income rebounded to a record $23.13 billion, representing a 274.9% increase year‑over‑year, and diluted EPS soared to $4.77 from $1.23 in 2024. The VMware acquisition, after an initial earnings drag, has clearly become a powerful contributor to both top‑line and bottom‑line growth.
**Latest Five‑Quarter Summary (April 2025 – April 2026)**
The quarterly data shows accelerating momentum. Revenue stepped up sequentially from $15.00 billion in the quarter ended April 2025 to $15.95 billion (July 2025), $18.02 billion (October 2025), $19.31 billion (January 2026), and finally $22.19 billion in April 2026. This represents a 48% year‑over‑year increase for the April 2026 quarter. Gross profit margin remained consistently high, reaching 64.71% in the latest quarter. EBITDA grew from $8.11 billion in April 2025 to $13.03 billion in April 2026, with the EBITDA margin holding at 54.67%. Net income exhibited some quarterly variation – $4.97 billion (April 2025), $4.14 billion (July 2025), then a strong $8.52 billion (October 2025), $7.35 billion (January 2026), and $9.31 billion (April 2026) – reflecting normal fluctuations in tax and non‑operating items. Diluted EPS followed a similar pattern, rising from $1.03 in April 2025 to $1.74 in October 2025, then moderating to $1.50 in January 2026 (data for April 2026 EPS was not provided). The consistent sequential revenue growth and expanding profitability underscore Broadcom’s successful integration of VMware and the explosive demand for its AI semiconductor solutions, which have become the primary engine of the company’s financial performance.
