Broadcom Reports Second Quarter 2015 Results

Broadcom®, the pulse logo, Connecting everything®, and the Connecting everything logo are among the trademarks of Broadcom Corporation and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.

 


BROADCOM CORPORATION

Unaudited GAAP Condensed Consolidated Statements of Operations

(In millions, except per share amounts)












Three Months Ended


Six Months Ended


June 30,


March 31,


June 30,


June 30,


2015


2015


2014


2015


2014

Net revenue

$

2,096



$

2,058



$

2,041



$

4,154



$

4,025


Cost of revenue

939



972



1,005



1,911



2,009


Gross profit

1,157



1,086



1,036



2,243



2,016


Operating expenses:










Research and development

538



539



634



1,077



1,270


Selling, general and administrative

188



177



182



365



367


Amortization of purchased intangible assets

2



1



9



3



18


Impairments of long-lived assets



143



165



143



190


Restructuring costs, net

4



7



23



11



28


Settlement costs

1





16



1



18


Other charges (gains), net

22



(4)



(7)



18



(59)


Total operating expenses

755



863



1,022



1,618



1,832


Income from operations

402



223



14



625



184


Interest expense, net

(3)



(5)



(5)



(8)



(10)


Other expense, net

(5)





(8)



(5)



(5)


Income before income taxes

394



218



1



612



169


Provision for income taxes

8



9



2



17



5


Net income (loss)

$

386



$

209



$

(1)



$

595



$

164


Net income (loss) per share (basic)

$

0.64



$

0.35



$



$

0.99



$

0.28


Net income (loss) per share (diluted)

$

0.63



$

0.34



$



$

0.97



$

0.28


Weighted average shares (basic)

602



600



587



601



585


Weighted average shares (diluted)

616



613



587



614



593


Dividends per share

$

0.14



$

0.14



$

0.12



$

0.28



$

0.24



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