Broadcom reports Q4 and Full Year 2014 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 fourth quarter and year ended December 31, 2014.

Net revenue for the fourth quarter of 2014 was $2.14 billion. This represents a decrease of 5.2% compared with the $2.26 billion reported for the third quarter of 2014 and an increase of 3.8% compared with the $2.06 billion reported for the fourth quarter of 2013. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the fourth quarter of 2014 was $390 million, or $0.64 per share (diluted), compared with GAAP net income of $98 million, or $0.16 per share (diluted), for the third quarter of 2014 and GAAP net income of $168 million, or $0.29 per share (diluted), for the fourth quarter of 2013.

Net revenue for the year ended December 31, 2014 was $8.43 billion. This represents an increase in net revenue of 1.5% from the $8.31 billion reported for the year ended December 31, 2013. Net income computed in accordance with GAAP for the year ended December 31, 2014 was $652 million, or $1.08 per share (diluted), compared with GAAP net income of $424 million, or $0.73 per share (diluted), for the year ended December 31, 2013.