Boston, MA 07/25/2013 (wallstreetpr) – Broadcom Corporation (NASDAQ:BRCM) closed in the previous trading session at $27.01 after heading towards southwards direction by 15.14% (-$4.82). With around 571 million outstanding shares, the market capitalization of the company is $15.42 billion.
The Chief Executive Officer and the President of the company, Broadcom Corporation, Mr. Scott McGregor discussed the results of second quarter of the year 2013. He said that in this second quarter the company delivered revenue of $2.09 billion, up roughly 6% year-over-year. Due to the strong sequential growth in the company’s infrastructural business the gross margin of the product came in ahead of guidance. The company continues to deliver innovative products across addressable home, hand, market and infrastructure.
The Chief Financial Officer and the Executive Vice President of the company, Eric Brandt said that there was total revenue of $2.09 billion which included the product revenue of $2.04 billion. The total net revenue of the 2nd quarter was up 4.2% sequentially and was up 6% year over year.
The gross margin of non-GAAP product in the 2nd quarter went down 20 basis points from the first quarter to 51.8%. The gross margin of GAAP product in the 2nd quarter was 49.4%.
The expenses of SG&A and Non-GAAP Research and Development were $3 million sequential whereas the expenses of SG&A and GAAP Research and Development were down $1 million. The non-GAAP EPS of the 2nd quarter was $0.70 or $0.02.
The company has recently announced about a new reference platform in emerging markets for operators to deploy two-way STB (set-top box) solutions with HD (high definition) and DOCSIS (Data over Cable Service Interface Specification) 2.0 more cost-effectively. The new Broadcom chipset expertise of the BCM7019 HD cable SoC (system-on-a-chip) builds on the reliable engineering and delivers current needs of the operators for even lower cost, higher performance STB devices.
