Broadcom Profit Falls On Lower Revenue, Expenses - Quick Facts

(RTTNews) - Broadcom Corp. (BRCM) , a provider of semiconductor solutions for wired and wireless communications, Thursday reported fourth-quarter net income of $168 million or $0.29 per share compared with $251 million or $0.43 per share last year.

Excluding items, adjusted earnings for the quarter were $366 million or $0.60 per share compared with $462 million or $0.76 per share a year ago.

Revenues for the quarter were lower at $2.06 billion compared with $2.08 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.57 per share on revenues of $2.02 billion for the quarter. Analysts' estimates typically exclude special items.

Results were also impacted by operating expenses that escalated to $1.88 billion from $1.81 billion last year.

Looking ahead to the first quarter, the company expects revenues of $1.9 billion to $2.0 billion. Analysts expect revenues of $1.97 billion.

The company has raised the quarterly cash dividend by 9% to $.12 per share.