Broadcom publishes record results

Networking IC manufacturer Broadcom has reported unaudited financial results for its first quarter ended 31 March 2010, posting net revenue for the first quarter of 2010 at a record $1.46bn (£951m).  

This represents an increase in net revenue of 8.9 per cent compared with the $1.34bn reported for the fourth quarter of 2009 and an increase of 71.3 per cent compared with the $853m reported for the first quarter of 2009.  

GAAP net income was $210m, or $0.40 per share (diluted), compared with GAAP net income of $59m, or $0.11 per share (diluted), for the fourth quarter of 2009, and a GAAP net loss of $92m, or $0.19 net loss per share (basic and diluted), for the first quarter of 2009.