Denver, CO – (Stocksntrade) – 05/15/2014 – Sales figures of Broadcom Corporation (NASDAQ:BRCM) are going up with the increasing demand for chips. These chips connect networks of computers for communication. Higher demand increased its revenue 1.1%. Among the three main business categories of Broadcom-infrastructure and networking, broadband and mobile and wireless, the first two are doing fine whereas the mobile and wireless is struggling badly.
Broadcom in conferences
Broadcom Corporation (NASDAQ:BRCM) will be present in J.P. Morgan Global Technology, Media and Telecom Conference. The conference to be held on May 21, 2014. The venue of the conference is Boston’s the Westin Copley Place Hotel.
The company will present in Cowen and Company Technology, Media & Telecom Conference. The date is May 28, 2014. The location of the presentation is Ney York’s the Palace Hotel.
Broadcom Corporation (NASDAQ:BRCM) will also present in Bank of America Merrill Lynch Technology Conference. The presentation is scheduled on the date of June 3, 2014. The venue decided for it is the Ritz-Carlton Hotel, SF.
The presentations will include information about new technologies, current and future products and market opportunities, business prospects etc.
Chips Push Sales
Broadcom reported sales which surpassed the analysts’ estimates. With the higher demand for computer networking gear, the sales of the company went up. Revenue of the company during the first quarter FY2014 increased 1.1% to reach the figure of $1.98 billion. Analysts projected sales of $1.96 billion.
Chips that Broadcom Corporation (NASDAQ:BRCM) produces, which connects networks of computers are in high demand even though the company didn’t do very well in mobile phone modem market. The company also sells parts for home gateways and routers and this market is also growing as demand for fast data to feed signals to high resolution TVs.
The first quarter net income was down 14% to reach a figure of $165 million. For the same quarter last year, it was $191 million. During this quarter, the EPS was $0.28, whereas it was $0.33 the last year. The total revenue also declined from the previous year. However, the company received $43 million from an income agreement it had with QUALCOMM, Inc. (NASDAQ:QCOM).
Broadcom’s cellular business
Broadcom Corporation (NASDAQ:BRCM)’s business is divided into three segments- infrastructure and networking, broadband and mobile and wireless. While the other two segments are performing really good, mobile and wireless segment is struggling. This is the largest and the most important business segment for the company.
In FY2013, mobile wireless segment revenue grew by 3%. The resulting operating income was reduced by 35%. During 1Q2014 the segment saw a 15% rate decrease compared to the last year with an operating income loss of $32 million.
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