Broadcom reported third quarter sales of $2.13 billion, up 8 percent compared to the previous quarter and up 9 percent compared to the third quarter of 2011. The company reported a net income of $220 million, or 38 cents per share, up 38 percent from the previous quarter but down 19 percent compared to the third quarter of 2011.
Broadcom's quarterly sales exceed consensus analysts' expectations. On a pro forma basis, excluding charges, Broadcom reported earnings per share of 79 cents per share, best consensus analysts' expectations of about 76 cents per share, according to Yahoo Finance.
For the fourth quarter, Broadcom forecast sales to decline about 4 percent to between $1.95 billion and $2.1 billion, below consensus analysts' expectations.
Eric Brandt, Broadcom's chief financial officer, said the company expected the fourth quarter sales decline to be greater than the typical 1 to 2 percent seasonal fourth quarter decline due to an expected decline in sales from the company's infrastructure and networking business segment.