Broadcom Posts Better than Expected Q1

Broadcom reported net revenue for the first quarter of 2015 was $2.06 billion. This represents a decrease of 4.0% compared with the $2.14 billion reported for the fourth quarter of 2014 and an increase of 3.7% compared with the $1.98 billion reported for the first quarter of 2014. Net income (GAAP) for the first quarter of 2015 was $209 million, or $0.34 per share (diluted), compared with GAAP net income of $390 million, or $0.64 per share (diluted), for the fourth quarter of 2014 and GAAP net income of $165 million, or $0.28 per share (diluted), for the first quarter of 2014.

"Broadcom delivered better-than-expected results in the March quarter driven by strength in the high-end smartphone and broadband access markets," said Scott McGregor, Broadcom's President and Chief Executive Officer. "Looking to the June quarter, we see operating performance continuing to strengthen on tight operating expense discipline and strong margins, consistent with our objective of driving profitable growth."

http://investor.broadcom.com/releasedetail.cfm?ReleaseID=907767