Monday, October 20, 2008

Broadcom Posts Q3 Revenue of $1.298 Billion, up 37% YoY

Broadcom reported Q3 revenue of $1.298 billion, an increase of 8.1% compared with the $1.201 billion reported for the second quarter of 2008 and an increase of 36.7% over the same period last year. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the third quarter of 2008 was $164.9 million, or $.31 per share (diluted), compared with GAAP net income of $134.8 million, or $.25 per share (diluted), for the second quarter of 2008, and GAAP net income of $27.8 million, or $.05 per share (diluted), for the third quarter of 2007.

"The third quarter was a great quarter for Broadcom. We achieved record revenue and cash flow from operations, and demonstrated our commitment to deliver profitable growth," said Scott A. McGregor, Broadcom's President & Chief Executive Officer. "As in prior economic slowdowns, we expect to enhance our competitive positioning and drive the next wave of communications convergence. The widespread acceptance of our combination solutions validates our strategy, and together with our rapid transition to 65nm process technology, should enable us to emerge in a much stronger position when the economy recovers."


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