Broadcom quarterly revenue down, slightly misses expectations

SAN FRANCISCO, July 22 Tue Jul 22, 2014 4:10pm EDT

SAN FRANCISCO, July 22 (Reuters) - Broadcom posted lower second-quarter revenue on Tuesday that slightly missed Wall Street's expectations as the chipmaker plans to exit the fiercely competitive cellular baseband business.

Broadcom, a leader in connectivity chips with features like Wifi and Bluetooth, reported second-quarter revenue of $2.04 billion, down 2.3 percent from the year-ago period. Analysts on average had expected second-quarter revenue of $2.05 billion, according to Thomson Reuters I/B/E/S. (Reporting by Noel Randewich)

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