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Broadcom posts mixed quarterly report, stock gains

23
Jul
2014

By Noel Randewich SAN FRANCISCO (Reuters) – Broadcom posted better-than-expected adjusted second-quarter earnings on Tuesday that pushed the chipmaker’s stock higher as it plans to exit the fiercely competitive cellular baseband business. Broadcom, a leader in connectivity chips with features like Wi-Fi and Bluetooth, reported second-quarter revenue of $2.04 billion, down 2.3 percent from the year-ago period. It said revenue in the third quarter would be between $2.10 billion and $2.25 billion. The midpoint of its forecast is $2.175 billion. …

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