Broadcom Corp Beats Q4 Views On Higher Sales, Fewer Charges

Broadcom Corp.

beat quarterly consensus views Thursday on higher-than-expected revenue from the high-end smartphone and broadband access markets. The Irvine, California company, which counts Apple Inc.

among its customers, changed hands in the extended session recently up nearly 2 percent to $42.09 a share. Net income more than doubled in the fourth quarter to $390 million, or $0.64 a share, versus $168 million, or $0.29 a share a year earlier. The year-ago period included higher charges for restructuring and impairment. Adjusted income was $0.90 cents a share for the recent period, while revenue increased 3.8 percent to $2.14 billion, from $2.06 billion last year Analysts had forecast earnings of $0.87 a share on revenue of $2.11 billion.