Broadcom Jumps on Q2 Earnings Results

Shares of Broadcom BRCM are trading higher in the after-hours following the release of the company's Q2 earnings results. Currently, shares are higher by 9.57%, trading at $38.25; they ended they regular session lower by 1.58%, at $34.91. Broadcom reported Q2 EPS of $0.72 on revenues of $1.8 billion; the Street was looking for $0.63 per share on revenues of $1.8 billion. Revenues increased 12.5% year over year. "Broadcom delivered solid profitability in Q2 within our non-GAAP target model, with better-than-expected gross margins and record cash flow from operations," said Scott A. McGregor, Broadcom's President and Chief Executive Officer. "Looking forward, we see strong demand for our communications solutions, reinforcing that innovation is driving customer demand. We expect solid growth in revenue and profitability in Q3." Broadcom Corporation is a provider of semiconductor for wired and wireless communications. Broadcom products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment.