Monday, April 25, 2011

Broadcom Hits Q1 Revenue of $1.82 Billion, up 24%

Broadcom reported Q1 net revenue of $1.82 billion, a decrease in net revenue of 6.6% compared with Q4 2010 and an increase of 24.2% compared with the $1.46 billion reported for Q1 2010. Net income (GAAP) was $228 million, or $.40 per share (diluted).

"Broadcom reported solid results for the first quarter, with revenue above the mid-point of guidance and better-than-expected profitability," said Scott A. McGregor, Broadcom's President and Chief Executive Officer. "In addition, momentum continues to build around our innovative solutions. Following a record year in 2010, we had record design wins in the first quarter, which speaks to the continued underlying strength of our integrated solutions for the Home, Hand and Infrastructure markets."

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