Broadcom Posts Q2 Loss, But Beats View; Revenue Misses Street

(RTTNews) - Broadcom Corp. (BRCM) Tuesday reported second-quarter net loss of $251 million or $0.43 per share, compared to net income of $160 million or $0.28 per share last year.

On an adjusted basis, net income for the quarter was $436 million or $0.70 per share, compared to $435 million or $0.72 per share last year. Analysts polled by Thomson Reuters expected the company to earn $0.68 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter increased to $2.09 billion from $1.97 billion last year. Analysts estimated revenues of $2.10 billion for the period.