Broadcom (BRCM.O) posted third-quarter results on Tuesday that exceeded Wall Street’s expectations as the chipmaker focused on networking and smartphone chips, sending its shares 5 percent higher. Broadcom, whose wifi connectivity chips are used in Apple’s iPhones, reported third-quarter revenue of $2.26 billion, up 5.3 percent from the year-ago period. Analysts on average had expected third-quarter revenue of $2.17 billion, according to Thomson Reuters I/B/E/S. Broadcom may have received a boost from brisk sales of Apple’s newest smartphones, Bernstein analyst Stacy Rasgon said.
Published in TZ Latest News 21 October, 2014 by The TZ Newswire Staff
Broadcom third-quarter results beat views, stock jumps
Published in TZ Latest News 21 October, 2014 by The TZ Newswire Staff
Broadcom third-quarter results beat views, stock jumps
Broadcom (BRCM.O) posted third-quarter results on Tuesday that exceeded Wall Street’s expectations as the chipmaker focused on networking and smartphone chips, sending its shares 5 percent higher. Broadcom, whose wifi connectivity chips are used in Apple’s iPhones, reported third-quarter revenue of $2.26 billion, up 5.3 percent from the year-ago period. Analysts on average had expected third-quarter revenue of $2.17 billion, according to Thomson Reuters I/B/E/S. Broadcom may have received a boost from brisk sales of Apple’s newest smartphones, Bernstein analyst Stacy Rasgon said.