Most experts were very optimistic about the economic outlook for 2014, but the stock market is saying otherwise. When the numbers for Ford, GM and factory output came out with less than expected numbers, it began a sell off that saw the DOW plunge by 326 points. Only time will tell what 2014 holds for the market, but that is not stopping some companies from buying back their stocks and increasing dividends. Broadcaom's nine percent increase to the quarterly cash dividend was made on January 29, before yesterday's drop in the market.
The Board of Directors declared $ 0.12 per share, which will be paid to investors holding Class A and Class B Broadcom common stock.
During the last quarterly report of 2013 the company reported net revenue of $2.06 billion, which was a decrease of 3.8 percent compared to the $2.15 billion for the third quarter of the same year. When the US generally accepted accounting principles (GAAP) was computed, the net income for the fourth quarter was $168 million, or $0.29 per share.
The net revenue for 2013 was $8.31 billion representing an increase of 3.7 percent from the previous of $8.01 billion. The net income for the year with GAAP computation was $424 million or $0.73 per share (diluted).
Broadcom Corporation has a global presence in semiconductor solutions for wireless and wired communications. The products and services the company offers is used to deliver voice, video, data and multimedia connectivity across all environments to consumers and businesses with state-of-the-art system-on-chip solutions.
Some of the products the company offers are:
- Application and multimedia processors – IP communications solutions, stand-alone media terminal adapters, tablet application processors, Wi-Fi phone solutions
- Broadband carrier access – EPON solutions, GPON solutions, power line communications solutions, small cell SoCs, xDSL CO solutions, xDSL CPE solutions
- Cable – cable modem solutions, cable set-top box solutions, CMTS products, digital transport adapters, high definition audio/video/ graphics system processors, MPEG-2 digital audio/video encoders
- Cellular – 3G baseband processors, 4G baseband processors, cellular RF, mobile multimedia processors, power management solutions
"In 2013 Broadcom delivered record revenue in all three business groups. Continued strength in our Infrastructure Business Group drove Q4 revenue and earnings ahead of expectations. Looking into 2014, we are building momentum in LTE, setting the stage for Ultra HD and powering next generation service provider and data center networks," said Scott McGregor, Broadcom's President and Chief Executive Officer.
Edited by Cassandra Tucker