Broadcom reports unaudited financial results

American integrated circuit supplier Broadcom has reported unaudited financial results for its fourth quarter and year ended 31 December 2010.

Net revenue for the fourth quarter of 2010 was a record $1.95bn, representing an increase of 7.7 per cent compared with the $1.81bn reported for the third quarter of 2010 and an increase of 44.9 per cent compared with the $1.34bn reported for the fourth quarter of 2009.

Net income computed in accordance with GAAP for the fourth quarter of 2010 was $266m, or $0.47 per diluted share, compared with $327m, or $0.60, for the third quarter of 2010 and $59m, or $0.11, for the fourth quarter of 2009.

Net revenue for the year ended 31 December 2010 was $6.82bn, representing an increase in net revenue of 51.8 per cent from the $4.49bn reported a year ago.