Broadcom reported Q2 revenue of $1.8 billion, an increase of 12% compared with the $1.6 billion reported for the second quarter of 2010. Net income (GAAP) was $175 million, or $.31 per share (diluted), compared with GAAP net income of $278 million, or $.52 per share (diluted), for the second quarter of 2010.
“Broadcom delivered solid profitability in Q2 within our non-GAAP target model, with better-than-expected gross margins and record cash flow from operations,” said Scott A. McGregor, Broadcom’s President and Chief Executive Officer. “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.”
Non-GAAP net income for the second quarter of 2011 was $418 million, or $.72 per share (diluted), compared with non-GAAP net income of $418 million, or $.74 per share (diluted), for the second quarter of 2010.
Conference Call Information
As previously announced, Broadcom will conduct a conference call with analysts and investors to discuss its second quarter financial results and current financial prospects today at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). The company will broadcast the conference call via webcast over the Internet. To listen to the webcast, or to view the financial and other statistical information required by Securities and Exchange Commission Regulation G, please visit the Investors section of the Broadcom website at www.broadcom.com/investors. The webcast will be recorded and available for replay until 10:00 p.m. Pacific Time on Monday, August 15, 2011.
The financial results included in this release are unaudited.
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