Broadcom Swings To Profit

(RTTNews) - Broadcom Corp (BRCM), a provider of semiconductor solutions for wired and wireless communications, on Thursday reported second-quarter net earnings of $386 million or $0.63 per share compared with a loss of $1 million or $0.00 per share last year.

Excluding impairment charges and other one-time items, adjusted earnings for the quarter were $0.72 per share compared with $0.49 per share a year ago.

Revenues for the quarter were up 2.7% at $2.10 billion compared with $2.04 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.75 per share on revenues of $2.11 billion for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, the company expects revenues of $2.14 billion, plus or minus $75 million. Analysts expect revenues of $2.24 billion.