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Broadcom ups net revenue, income in Q2

Wed, 07/23/2008 - 8:10am
Traci Patterson

Broadcom Corp. reported net revenues of $1.2 billion in its second quarter, ended June 30, an increase of 33.7 percent year-over-year and an increase of 16.3 percent sequentially.

Net income for the second quarter of 2008 was $134.8 million, or 25 cents per share (diluted), compared with a net income of $34.3 million, or 6 cents per share (diluted), in the year-ago quarter.

"Despite continued economic turmoil, demand for Broadcom's wired and wireless communications products strengthened in the second quarter," said Scott A. McGregor, Broadcom's president and CEO.

"Our quarterly product revenue, excluding royalties, surpassed the $1 billion milestone for the first time in our history in the second quarter, highlighting the growing role that communications plays within our everyday lives at home, at work or while on-the-go,” McGregor continued. “Broadcom excels at integrating multiple forms of communications into a single piece of silicon and is positioned to continue leading this convergence in communications."

Broadcom provides semiconductors for wired and wireless communications, and the company’s products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment.

More Broadband Direct:

• AT&T's profit driven by wireless

• Verizon bulks up in-home routers for FiOS service

• Cisco plunks down $120M to buy Pure Networks

• Amazon, TiVo team on interactive TV shopping

• Goldman Sachs leads funding round for Verimatrix

• Convergys abides during challenging Q2

• Broadcom ups net revenue, income in Q2

• Yahoo limps along through Q2

• Broadband Briefs for 7/23/08

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