Broadcom reported Q1 net revenue of $550.3 million, an increase of 2.0% from the $539.4 million reported for the fourth quarter of 2004 and a decrease of 4.0% from the $573.4 million reported for the first quarter of 2004. Net income (GAAP) for Q1 2005 was $69.2 million, or $.19 per share (diluted), compared with GAAP net income of $71.1 million, or $.20 per share (diluted), for the fourth quarter of 2004, and GAAP net income of $39.9 million, or $.12 per share (diluted), for the first quarter of 2004.
“We were pleased with our progress in the first quarter as revenue increased over the fourth quarter of 2004 and the company again generated strong cash flow from operations, leading to record levels of cash and marketable securities,” said Scott McGregor, Broadcom’s President and CEO.
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