Monday, October 25, 2010

Broadcom's Revenue Jumps 44% from Prior Year

Broadcom reported record Q3 2010 net revenue of $1.806 billion, an increase of 12.6% compared with the $1.604 billion reported for the second quarter of 2010 and an increase of 44% compared with the $1.254 billion reported for the third quarter of 2009. Net income (GAAP) was $327 million, or $.60 per share (diluted).

"Broadcom continues to execute exceptionally well with record revenue and earnings in the third quarter of 2010. I am particularly pleased that we had record sales in each of our segments and reached our GAAP product operating margin model of 15% - 17%. These achievements are due to solid growth in our wired and wireless communication businesses, powerfully engineered products and Broadcom's continued commitment to financial discipline," said Scott A. McGregor, Broadcom's President and Chief Executive Officer.