UPDATE: Broadcom Posts Upbeat Q4 Profit, Lifts Dividend

Broadcom

reported a drop in its fourth-quarter profit. Broadcom's quarterly profit fell to $251 million, or $0.43 per share, from $254 million, or $0.45 per share, in the year-ago period. Its adjusted profit came in at $0.76 per share. Its revenue rose to $2.08 billion, from $1.82 billion. However, analysts were expecting a profit of $0.74 per share on revenue of $2.06 billion. Broadcom lifted its quarterly cash dividend by 10% to $0.11 per share. Broadcom shares fell 1.10% to $33.34 in after-hours trading.