Broadcom reports first quarter 2015 results

IRVINE, Calif. — Broadcom Corporation (NASDAQ: BRCM), a global innovation leader in semiconductor solutions for wired and wireless communications, today reported unaudited financial results for its first quarter ended March 31, 2015.

Net revenue for the first quarter of 2015 was $2.06 billion. This represents a decrease of 4.0% compared with the $2.14 billion reported for the fourth quarter of 2014 and an increase of 3.7% compared with the $1.98 billion reported for the first quarter of 2014. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the first quarter of 2015 was $209 million, or $0.34 per share (diluted), compared with GAAP net income of $390 million, or $0.64 per share (diluted), for the fourth quarter of 2014 and GAAP net income of $165 million, or $0.28 per share (diluted), for the first quarter of 2014.