Broadcom on Tuesday said its third quarter revenues rose 2.7 percent to $2.15 billion.
Net income of Broadcom increased to $316 million from $220 million.
“With the Renesas transaction closed, the combined team is working to deliver LTE revenue in early 2014. We are taking the necessary steps to tightly manage the business while focusing on strategic initiatives, including LTE, data center innovation and driving the next generation of home video with HEVC,” said Scott McGregor, Broadcom’s President and Chief Executive Officer.
Recently, Broadcom initiated plan to reduce workforce reduction of up to 1,150 employees. Some of these employees are originated from the Renesas acquisition.
