Broadcom reports 2Q/2011 net revenue of USD 1.8bn
“Looking forward, we see strong demand for our communications solutions, reinforcing that innovation is driving customer demand. We expect solid growth in revenue and profitability in Q3”, said Scott A. McGregor, Broadcom’s President and Chief Executive Officer.Net revenue for the second quarter of 2011 was USD 1.8 billion. This represents an increase of 12% compared with the USD 1.6 billion reported for the second quarter of 2010. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the second quarter of 2011 was USD 175 million, or USD .31 per share (diluted), compared with GAAP net income of USD 278 million, or USD .52 per share (diluted), for the second quarter of 2010.