Friday, January 27, 2006
Broadcom Corp., a diversified, high-growth maker of microchips, said quarterly earnings nearly tripled, topping all Wall Street expectations.
Net income for the company jumped to $194.8 million or 50 cents per diluted share in the fourth quarter from $71.1 million or 20 cents per share a year ago.
Investors cheered both 2005 results and an outlook for accelerating revenue growth in the first quarter, which follows a trend among many U.S. chipmakers who see unusually strong growth in the current quarter over the fourth quarter.
Revenue rose 52 percent to $820.6 million. Broadcom semiconductor chips are used in products ranging from Apple Computer Inc.'s video iPods to broadband networks, wireless phones, storage devices and computers.
By: DocMemory
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