Broadcom Bounces on Better Than Expected Q4 EPS

Shares of Broadcom

are trading higher in the after-hours following the release of the company's Q4 earnings results. Currently, shares are higher by 2.50%, trading at $35.21; they ended the regular session lower by 0.29%, at $34.35. Broadcom reported Q4 EPS of $0.68 on revenues of $1.82 billion; the street was looking for $0.65 per share. Revenues decreased 6.4% year over year. Non-GAAP gross margin came in at 50.6%. "Broadcom delivered solid results in 2011, as we gained significant market share, secured record design wins across our businesses, and delivered record revenue and cash flow from operations," said Scott McGregor, Broadcom's President and Chief Executive Officer. "Looking forward, we will remain focused on product innovation and engineering execution that position us to grow faster than the industry." Broadcom Corporation is a provider of semiconductor for wired and wireless communications. Broadcom products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment.