MarketWatch writes article about Broadcom reports lower revenue, though profit up:
By Maria Armental
Published: Oct 26, 2015 4:53 p.m. ET
By
MariaArmental
Broadcom Corp. reported lower revenue in the third quarter even as
profit rose sharply from the year earlier, when the chip maker booked
costs related to selling its cellular baseband business.
Fellow chip maker Avago Technologies Ltd., the former semiconductor
unit of Hewlett-Packard Co., has made a $37 billion buyout bid for
Broadcom. The deal is expected to close in the first quarter. The
combined company, which would keep the Broadcom name, would be the
third-largest chip vendor by revenue.
Irvine, Calif.-based Broadcom is the largest maker of chips used in
networking boxes.
Overall, Broadcom reported a quarterly profit of $429 million, or 69
cents a share, compared with $98 million, or 16 cents, a year earlier.
Excluding restructuring-related costs and other items, profit rose to
77 cents a share from 76 cents a year earlier. The year-ago results
included about $114 million, or 19 cents a share, in costs tied to its
exit of the cellular-chip business.
MarketWatch Article Source Here.