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This article is more than 1 year old

Broadcom lowers cone of silence over results

Yes, we made money. No, you can't know why

Broadcom has pleased investors, turning in Q3 financials that saw its profit rise in the face of falling revenue.

After a tough couple of years which, among other things, saw it exit the cellular baseband modem market, and with investors unhappy at the US$37 billion Avago takeover of the company, the results were welcomed, with its shares rising 1.2 per cent in after-hours trading.

Its Q3 net revenue of $2.19 billion was down 3.2 per cent on the same quarter in 2014 ($2.26 billion), but GAAP income for the quarter, at $429 million, was well ahead of the restructuring-punished $98 million for the same period in 2014.

Broadcom will be more pleased with its Q2-Q3 movements, with revenue up 4.3 per cent (over the Q2 $2.1 billion) and profit up 11 per cent (compared to $386 million).

The Avago acquisition has brought an eerie silence over the company's earnings, preventing it from holding a media/analyst earnings call. The same cone of silence hangs over the company's business unit results.

The takeover is the subject of a lawsuit launched in August by investors angry that $37 billion undervalues Broadcom, which will also have contributed to its silence over the Q3 results. ®

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