Broadcom Posts Record Quarterly Net Revenue -- Up 54% YoY

Broadcom reported record Q2 2010 revenue of $1.604 billion, an increase in net revenue of 9.7% compared with the $1.462 billion reported for Q1 2010 and an increase of 54.3% compared with the $1.040 billion reported for Q2 2009. Net income (GAAP) was $278 million, or $.52 per share (diluted), compared with GAAP net income of $210 million, or $.40 per share (diluted), for the first quarter of 2010, and GAAP net income of $13 million, or $.03 per share (diluted), for the second quarter of 2009.


"The second quarter was an exceptional quarter for Broadcom, as strong product demand within our Broadband and Mobile & Wireless segments resulted in record revenue and earnings. Broadcom's substantial increase in earnings per share and solid improvement in product operating margin demonstrates our commitment to driving profitable growth in 2010," said Scott A. McGregor, Broadcom's President and Chief Executive Officer.


"We anticipate that increasing demand for communications solutions and market share gains will drive strong revenue growth for Broadcom in the third quarter."http://www.broadcom.com