Monday, July 25, 2011

Broadcom Corp. (NASDAQ: BRCM): Q2 2011 Earnings Roundup

Broadcom Corp. (NASDAQ: BRCM) said Monday that its second-quarter net income climbed to $175 million, or 31 cents a share, from $278 million, or 52 cents a share, in the year-ago quarter. On an basis basis, the company earned 72 cents a share in the latest quarter. Revenue grew 12% to $1.74 billion. Analysts, on average, expected the company to report earnings of 64 cents a share on revenue of $1.8 billion.

"Broadcom delivered solid profitability in Q2 within our non-GAAP target model, with better-than-expected gross margins and record cash flow from operations," said Scott A. McGregor, Broadcom's President and Chief Executive Officer. "Looking forward, we see strong demand for our communications solutions, reinforcing that innovation is driving customer demand. We expect solid growth in revenue and profitability in Q3."

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