BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED

(IN MILLIONS, EXCEPT PER SHARE DATA)

Fiscal Quarter Ended

Fiscal Year Ended

November 3,

August 4,

October 29,

November 3,

October 29,

2024

2024

2023

2024

2023

Net revenue

$

14,054

$

13,072

$

9,295

$

51,574

$

35,819

Cost of revenue:

Cost of revenue

3,399

3,133

2,449

12,788

9,272

Amortization of acquisition-related intangible assets

1,602

1,525

438

6,023

1,853

Restructuring charges

51

58

1

254

4

Total cost of revenue

5,052

4,716

2,888

19,065

11,129

Gross margin

9,002

8,356

6,407

32,509

24,690

Research and development

2,234

2,353

1,388

9,310

5,253

Selling, general and administrative

1,010

1,100

418

4,959

1,592

Amortization of acquisition-related intangible assets

813

812

348

3,244

1,394

Restructuring and other charges

318

303

13

1,533

244

Total operating expenses

4,375

4,568

2,167

19,046

8,483

Operating income

4,627

3,788

4,240

13,463

16,207

Interest expense

(916)

(1,064)

(405)

(3,953)

(1,622)

Other income, net

52

82

132

406

512

Income from continuing operations before income taxes

3,763

2,806

3,967

9,916

15,097

Provision for (benefit from) income taxes

(442)

4,238

443

3,748

1,015

Income (loss) from continuing operations

4,205

(1,432)

3,524

6,168

14,082

Income (loss) from discontinued operations, net of income taxes

119

(443)

-

(273)

-

Net income (loss)

$

4,324

$

(1,875)

$

3,524

$

5,895

$

14,082

Basic income (loss) per share ⁽¹⁾ :

Income (loss) per share from continuing operations

$

0.89

$

(0.31)

$

0.85

$

1.33

$

3.39

Income (loss) per share from discontinued operations

0.03

(0.09)

-

(0.06)

-

Net income (loss) per share

$

0.92

$

(0.40)

$

0.85

$

1.27

$

3.39

Diluted income (loss) per share ⁽¹⁾ :

Income (loss) per share from continuing operations

$

0.87

$

(0.31)

$

0.83

$

1.29

$

3.30

Income (loss) per share from discontinued operations

0.03

(0.09)

-

(0.06)

-

Net income (loss) per share

$

0.90

$

(0.40)

$

0.83

$

1.23

$

3.30

Weighted-average shares used in per share calculations ⁽¹⁾ :

Basic

4,679

4,663

4,133

4,624

4,149

Diluted

4,828

4,663

4,268

4,778

4,272

Stock-based compensation expense included in continuing operations:

Cost of revenue

$

159

$

174

$

62

$

664

$

210

Research and development

839

877

448

3,460

1,513

Selling, general and administrative

316

330

128

1,546

448

Total stock-based compensation expense

$

1,314

$

1,381

$

638

$

5,670

$

2,171

(1) Reflects a ten-for-one forward stock split on July 12, 2024.