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Chip-Maker Broadcom Gets Earnings Lift From Cloud Computing, Wireless Growth — Update

Provided by Dow Jones (Adds details, personnel changes) By Asa Fitch Chip-maker Broadcom Inc. reported higher quarterly earnings on Thursday, boosted by demand from cloud-computing operators and strong sales of wireless communications circuitry. The company reported $6.47 billion of revenue for its fiscal fourth quarter ended in October. That was 12% higher than the same period last year. The San Jose, Calif.-based company said earnings per share rose to $2.93 from $1.97 in the year-ago period. The results exceeded analysts expectations in a FactSet survey. Broadcom said sales this quarter are expected to reach $6.6 billion, also ahead of Wall Street expectations. The company also announced changes in its executive ranks.

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