January 29, 2013 / 9:23 PM / 5 years ago

Broadcom posts higher quarterly revenue

NEW YORK, Jan 29 (Reuters) - Broadcom Corp posted quarterly revenue at the high end of its target range as demand improved for its chips and it announced a 10 percent increase in its dividend.

The maker of chips used in products from television set-top boxes to smartphones, including the Apple Inc iPhone, said on Tuesday reported a profit of $251 million or 43 cents per share, compared with $254 million or 45 cents per share in the year-ago quarter.

Revenue rose to $2.08 billion from $1.82 billion and compared with Wall Street expectations for $2.07 billion according to Thomson Reuters I/B/E/S. On Dec. 5 Broadcom, forecast revenue in a range of $2 billion to $2.1 billion, which was at the high end of its previous guidance range.

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