There is not much in the way of detail, because it hasn’t done its conference call for investors yet, but Broadcom has recorded a 54% increase in its second quarter announced this week with revenues of $1.6 billion compared to $1 billion in the year ago quarter. Revenue has also gone up 9.7% from the immediate past quarter.
Net income was $278 million, up from just $13 million a year ago, and up substantially from the first quarter of 2010 when it was $210 million.
For the six months ended June 30, revenue was $3 billion up 62% from the $1.9 billion reported for the six months ended June 30, 2009 and the company gave guidance of revenue up 6% to 12% over Q2 between $1.7 billion and $1.8 billion with margins roughly the same.
“The second quarter was an exceptional quarter for Broadcom, as strong product demand within our Broadband and Mobile & Wireless segments resulted in record revenue and earnings. Broadcom’s substantial increase in earnings per share and solid improvement in product operating margin demonstrates our commitment to driving profitable growth in 2010,” said Scott McGregor, Broadcom’s President and CEO.
It’s not a big surprise but in a recovering cellular market, at a time when broadband additions remain strong and the Blu-Ray market is charging, the chip leader in DSL, Wi-Fi and Blu-ray, which is slowly growing its market share in the cellular market, was bound to have come out smelling sweet. Perhaps there will be more details next week.