Broadcom Q1 net revenue of $901.5 million, a decrease of 2.4% from the $923.5 million reported for the fourth quarter of 2006 and an increase of 0.1% from the $900.6 million reported for the first quarter of 2006. Net income (GAAP) was $61.0 million, or $.10 per share (diluted), compared with GAAP net income of $45.1 million, or $.08 per share (diluted), for the fourth quarter of 2006, and GAAP net income of $117.7 million, or $.20 per share (diluted), for the first quarter of 2006.
“Broadcom’s first quarter results came in better than we anticipated due to slightly higher than expected revenue combined with increased operating expense efficiencies,” said Scott A. McGregor, Broadcom’s President and Chief Executive Officer. “Mixed outlooks from a few of our larger customers are causing a lower than normal level of visibility into our near-term results. We believe that these issues are near-term in nature and we remain optimistic regarding our prospects for the second half of the year.”http://www.broadcom.com
