• Broadcom’s Q2 profit falls 90% on weaker revenue
By The Associated Press
IRVINE, Calif. (AP) – Chip maker Broadcom Corp. on Thursday reported a 90 percent drop in second-quarter earnings as revenue weakened. However, CEO Scott McGregor said in a statement that the second quarter saw "a more stable ordering pattern and the ramp of new products from our end customers."
Broadcom earned $13.4 million, or 3 cents per share, in the quarter, compared with a profit of $134.8 million, or 25 cents, in the same quarter a year ago. Revenue fell 13 percent to $1.04 billion from $1.2 billion.
Results include $65.3 million in gains from the settlement of a long-running patent dispute with Qualcomm Inc., as well as $67.3 million in related licensing revenue. Broadcom also contributed $50 million to its foundation. Analysts expected earnings of 24 cents per share, which typically excludes one-time items, and revenue of $984.4 million, according to Thomson Reuters.
• Verizon Wireless adds 1.1M subscribers in Q2
By The Associated Press
BASKING RIDGE, N.J. (AP) – Verizon Wireless said Friday it added a net 1.1 million subscribers in the second quarter, less than AT&T Inc. but roughly in line with analyst expectations.
The country's largest wireless carrier ended the quarter with 87.7 million customers. Nearly all of the additions were "retail," meaning they bought service directly under Verizon Wireless's brand rather than from a reseller such as Tracfone Wireless.
On Thursday, AT&T reported adding 1.37 million new customers. It was helped by the launch of a new iPhone model and a price cut on the older model.
• Connected nation releasing broadband maps
By Brian Santo
Connected Nation is continuing to make available geographic-based broadband data on a state-by-state basis. The non-profit is releasing statewide maps of rural and remote areas to support applications for broadband infrastructure funds now available through the American Recovery and Reinvestment Act (ARRA).
The maps are currently available for Tennessee, Ohio, Minnesota, Nevada, North Carolina, Kansas and Kentucky. Connected Nation is in the process of developing similar maps for other states where the organization is partnering with the state to obtain federal stimulus funds.
Connected Nation will also release Census Block-level broadband data, both in downloadable form.