Broadcom revenues rise, losses narrow in Q1
Chipmaker Broadcom Corp. posted first quarter net revenue of $327.5 million, up from $238.8 million in the year-ago period. Broadcom also recorded a net loss of $67.9 million (25 cents per share), compared to a net loss of $1.75 billion ($6.40 per share) in the previous quarter.
The report marked "an important event for Broadcom, as we return to pro forma profitability," said Broadcom President and CEO Alan "Lanny" Ross. Former Broadcom chief Dr. Henry Nicholas III announced his resignation in January.