--- title: "Broadcom: Business Model" description: "Broadcom revenue by business segment from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained." canonical: https://www.getswoopr.com/stocks/companies/broadcom/business-model/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Broadcom Business Model & Revenue Engine ## Direct Answer Broadcom reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Semiconductor Solutions is the largest, with $36.9 billion of revenue (58% of the total), followed by Infrastructure Software at $27.0 billion (42%). ## How Does Broadcom Make Money? No single line supplies a majority of revenue: the largest, Semiconductor Solutions, is 58%, which spreads Broadcom's exposure across several demand drivers. Between fiscal 2024 and 2025, Infrastructure Software grew fastest (+25.8%) and Semiconductor Solutions slowest (+22.5%), so the revenue mix tilts toward Infrastructure Software while that gap lasts. | Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | Semiconductor Solutions | $36.9 billion | $30.1 billion | 57.7% | 22.5% | | Infrastructure Software | $27.0 billion | $21.5 billion | 42.3% | 25.8% | ![Bar chart of Broadcom revenue by segment for fiscal 2025: Semiconductor Solutions 57.7%, Infrastructure Software 42.3%.](https://www.getswoopr.com/images/charts/broadcom-business-model-segment-mix.webp) *Broadcom revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.* ## Which Broadcom Segments Earn the Most? | Segment | FY2025 segment operating income | Segment margin | | --- | --- | --- | | Semiconductor Solutions | $21.2 billion | 57.6% | | Infrastructure Software | $20.8 billion | 76.8% | Segment operating income is the profit measure Broadcom reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Broadcom more safely than against another company. ## What Does Broadcom Sell? Broadcom also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business. | Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | Product | $44.8 billion | $35.0 billion | 70.2% | 28.3% | | Subscriptions and Services | $19.0 billion | $16.6 billion | 29.8% | 14.6% | ## What the Segment Figures Do Not Show The rows above add up to 100% of Broadcom's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin. ## Where These Numbers Come From Every figure on this page is a value Broadcom reported in the segment note and revenue disclosures of its Form 10-K filed December 18, 2025 (accession 0001730168-25-000121), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading. Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What are Broadcom's business segments? In its fiscal 2025 Form 10-K, Broadcom reports revenue for Semiconductor Solutions and Infrastructure Software. ### Which part of Broadcom brings in the most revenue? Semiconductor Solutions, with $36.9 billion of revenue in fiscal 2025, or 58% of the total. ### Where does Broadcom report its segment results? In the segment note to the financial statements in its Form 10-K, most recently filed December 18, 2025, alongside management's discussion of each segment's results. ## References - [SEC EDGAR: Broadcom Inc. Form 10-K filed December 18, 2025](https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm) - [SEC EDGAR: Broadcom Inc. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1730168&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) - [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets) ## Related Pages - [Broadcom company dossier](https://www.getswoopr.com/stocks/companies/broadcom/) - [Broadcom financial metrics](https://www.getswoopr.com/stocks/companies/broadcom/metrics/) - [Broadcom financial risk indicators](https://www.getswoopr.com/stocks/companies/broadcom/risks/) - [Broadcom peer comparison](https://www.getswoopr.com/stocks/companies/broadcom/competitors/) - [Broadcom business model and revenue mix](https://www.getswoopr.com/stocks/companies/broadcom/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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