Broadcom revenue dips 3.2% to $2.19 billion

Broadcom CEO Scott McGregor
Chip maker Broadcom said its revenue fell 3.2 percent to $2.19 billion in the third quarter ended September 30, 2015.

Net income of Broadcom increased to $429 million from $98 million.

Broadcom said net income for Q3 2014 included charges for restructuring costs related to Broadcom’s decision to exit the cellular baseband business totaling $114 million and additional charges for the impairment of purchased intangible assets of $200 million.

Broadcom CEO Scott McGregor said: “These results are a testament to the company’s operational excellence and leadership in the markets we serve.”

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