Infrastructure Software revenues are expected to grow 15% year over year to $6.7 billion.Strong Liquidity Bodes Well for AVGOBroadcom benefits from a strong balance sheet and its free cash-flow-generating ability. As of Aug. 3, 2025, cash and cash equivalents were $10.72 billion, and Broadcom generated $7.17 billion in cash flow from operations. Free cash flow was $7.02 billion and accounted for 44% of revenue at the end of the third quarter of fiscal 2025.The strong balance sheet is helping AVGO lower leverage, pay consistent dividends and return cash to shareholders through buybacks. Broadcom paid $2.8 billion in cash dividends in the fourth quarter of fiscal 2025.AVGO's Q3 Gross Margin to Suffer From Unfavorable XPU MixBroadcom's fourth-quarter fiscal 2025 guidance reflects a 70 basis point sequential decline in gross margin due to a higher mix of lower-margin XPUs.