Broadcom reports 30% improvement in sales

Broadcom reports 30% improvement in sales

Broadcom Corp. has said in a statement that its quarterly revenue rose 30 percent from a year earlier. The company gained from new business originating from products such as digital television and next- generation cellular phones.

The company added that it expects the fourth-quarter sales to be flat to up 1 percent from the third quarter. This is somewhat lower than previously estimated figures.

Broadcom Chief Financial Officer Bruce Kiddoo said in a statement: “We still expect to see an increase in Q4 over Q3, but not as much as we had anticipated.”

For the third quarter, the company had revenues of $902.6 million, down 4 percent from the prior quarter. The company competes with rivals including Qualcomm and Texas Instruments in the global market.