Tuesday, October 23, 2012

Broadcom Posts Revenue of $2.13 billion up 8.7% YoY

Broadcom reported record Q3 revenue of $2.13 billion, up 8.0% compared with the $1.97 billion reported in Q2 2012 and an increase of 8.7% compared with the same period last year.  GAAP net income was $220 million, or $.38 per share (diluted), compared with GAAP net income of $160 million, or $.28 per share (diluted), for Q2.

"Broadcom delivered record quarterly revenue and operating cash flow in Q3 driven by strength across all of our business segments," said Scott McGregor, Broadcom's President and Chief Executive Officer. "We also achieved key company milestones including our first quarter above $2 billion in revenue and our first quarter of Mobile and Wireless revenue above $1 billion. Despite challenging market conditions, Broadcom's product pipeline is stronger than ever, positioning us for continued success in the communications semiconductor space."