Avago 2nd-qtr beats Street on strong sales in industrial segment

Wed May 29, 2013 4:17pm EDT

May 29 (Reuters) - Chipmaker Avago Technologies Ltd's second-quarter results beat analysts' estimates as strong sales in the industrial business segment offset tepid demand for wireless chips from smartphone customers such as Apple Inc

The company's net income fell to $113 million, or 45 cents per share, in the second quarter from $134 million, or 54 cents per share, a year earlier.

Revenue fell 3 percent to $562 million.

Avago shares were up 4 percent at $35.85 in extended trading.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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