Broadcom Corporation President and Chief Executive Officer Scott McGregor stands in front of the company's logo in Taipei March 18, 2010.
Credit: /Pichi Chuang
- Broadcom Corp (BRCM.O) posted fourth-quarter results on Thursday that exceeded Wall Street's expectations as the chipmaker increased its focus on Wi-Fi and broadband chips.
Broadcom, a leader in connectivity chips with features like Wi-Fi and Bluetooth, reported fourth-quarter revenue of $2.14 billion, up 3.8 percent from the year-ago period.
It also said revenue in the first quarter would be $2.0 billion, plus or minus $75 million.
Analysts on average had expected fourth-quarter revenue of $2.11 billion and expect first-quarter revenue of $2.01 billion, according to Thomson I/B/E/S.
In the fourth quarter, Broadcom posted a net profit of $390 million, or 64 cents a share, compared with a net profit of $168 million, or 29 cents a share, last year.
Non-GAAP earnings per share totaled 76 cents in the fourth quarter, including stock-based compensation.
Not including stock-based compensation, Broadcom said its EPS was 90 cents. That compared to 87 cents expected by analysts.
Broadcom's stock rose 1.67 percent in extended trading after closing regular trade up 0.82 percent at $41.31 on Nasdaq.
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