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Broadcom reports on increased net revenue in 2Q/2017

Broadcom Limited reported net revenue of USD 4,190 million for its 2Q/2017 (ended April 30, 2017).
Net revenue was USD4,190 million, slightly higher than the USD 4,139 million in the previous quarter and an increase of 18 percent from USD 3,541 million in the same quarter last year.

Gross margin was USD 1,976 million, or 47.2 percent of net revenue. This compares with gross margin of USD 2,001 million, or 48.3 percent of net revenue, in the prior quarter, and gross margin of USD 1,046 million, or 29.5 percent of net revenue, in the same quarter last year.

Operating expenses were USD 1,502 million. This compares with USD 1,495 million in the prior quarter and USD 2,047 million in the same quarter last year.

Operating income was USD 474 million, or 11.3 percent of net revenue. This compares with operating income of USD 506 million, or 12.2 percent of net revenue, in the prior quarter, and operating loss of USD 1,001 million, or 28.3 percent of net revenue, in the same quarter last year.

Net income, which includes the impact of discontinued operations, was USD 464 million. This compares with net income of USD 252 million, in the prior quarter, and net loss of USD 1,255 million, in the same quarter last year.

“We delivered strong financial results for our second fiscal quarter with revenue, gross margin and EPS all above the top end of guidance,” said Hock Tan, President and CEO of Broadcom Limited. “Anticipating that end markets will remain healthy, we expect third fiscal quarter revenue growth of approximately six percent sequentially, driven by solid growth from our wired segment and a seasonal second half ramp in our wireless segment.”

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November 14 2017 8:30 PM V8.8.9-1