Broadcom Corp. scored a number of legal victories in patent litigation with rival Qualcomm Inc. last year but also, like its rival, managed to execute effectively on its business model.
The company reported Thursday that fourth-quarter net revenue reached $1 billion, up 8% from the year-ago quarter, and net income reached $90 million, up 100% over the year-ago quarter.
For the 2007 calendar year, revenue reached $3.8 billion, up 3% year-on-year, while net income for last year dropped to $213.3 million, down from $379 million in 2006.
The news sent Broadcom’s stock upward more than 6% to close at $22.48. After-hours trading sent the stock up 12% to $25.21.
Broadcom’s outlook for 2008 was bullish on revenue driven by Bluetooth, WLAN and digital TV.
The earnings slightly exceeded analysts’ expectations and the company said it was focused on tightening its belt on research-and-development and other costs, a concern cited by analysts.
Broadcom exceeds expectations with year-end results
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