Tuesday, October 21, 2014

Broadcom Posts Record Revenue of $2.26 Billion

Broadcom reported record net revenue for the third quarter of 2014 of $2.26 billion, an increase of 10.7% compared with the $2.04 billion reported for the second quarter of 2014 and an increase of 5.3% compared with the $2.15 billion for Q3 last year. Net income (GAAP) was $98 million, or $0.16 per share (diluted), compared with GAAP net loss of $1 million, or $0.00 per share (basic and diluted), for Q2 2014 and GAAP net income of $316 million, or $0.55 per share (basic and diluted), for the third quarter of 2013.

"Broadcom delivered record quarterly revenue and better than expected operating results," said Scott McGregor, Broadcom's President and Chief Executive Officer. "Our strong performance was driven by the Broadband and Connectivity business and diligent expense management. Longer term, the company's renewed focus on its core businesses is expected to produce improved margins and cash flows, enabling increased capital return."


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