Broadcom Earnings Decline In Line With Analysts' Estimates
Broadcom , whose chips are used in cell phones and Apple's iPod, reported earnings of 31 cents a share, matching expectations.
Shares of the company rose moderately in after-hours trading Thursday.
Excluding one-time charges, the company said its fourth-quarter net income was $184.9 million, or 31 cents a share, compared to $196.8 million, or 34 cents a share in the comparable period last year.
The company was expected to post fourth-quarter earnings of 31 cents a share, according to analysts surveyed by Thomson Financial.
Fourth-quarter revenue rose 12.5% to $923.5 million compared to $820.6 million in the fourth quarter of 2005.
Including one-time items, fourth-quarter profits plunged 76% on charges related to how it previously accounted for stock options grants. Including charges, the company reported net income of $45.1 million, or 8 cents a share.
Shares of Broadcom gained 17 cents to close at $33.67 in Thursday trading on the Nasdaq Stock Market.