Broadcom reports second 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 second quarter ended June 30, 2015.

Net revenue for the second quarter of 2015 was $2.10 billion. This represents an increase of 1.8% compared with the $2.06 billion reported for the first quarter of 2015 and an increase of 2.7% compared with the $2.04 billion reported for the second quarter of 2014. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the second quarter of 2015 was $386 million, or $0.63 per share (diluted), compared with GAAP net income of $209 million, or $0.34 per share (diluted), for the first quarter of 2015 and GAAP net loss of $1 million, or $0.00 per share (diluted), for the second quarter of 2014.

“The most important news in the quarter was the May 28th announcement of the agreement for Avago Technologies Limited to acquire Broadcom. Once closed, we expect this transaction to create the world’s leading diversified communications semiconductor company with combined annual revenue of approximately $15 billion. We expect this transaction to significantly enhance long term shareholder value and are excited about the future of the combined company” said Scott McGregor, Broadcom’s President and Chief Executive Officer.