Avago Technologies Q2 Profit Tops Estimates - Quick Facts

(RTTNews) - Avago Technologies Limited (AVGO), a leading semiconductor device supplier to the wireless, enterprise storage, wired, and industrial end markets, reported second-quarter net income of $344 million, or $1.21 per share compared to $158 million, or $0.61 per share in the same quarter last year. Non-GAAP income from continuing operations was $620 million, or $2.13 per share, for the quarter.

On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $2.01 for the quarter. Analysts' estimates typically exclude special items. Net revenue was $1.61 billion, an increase of 130 percent from $701 million in the same quarter last year. Net revenue on non-GAAP basis was $1.65 billion, an increase of 135 percent from $701 million, in the same quarter last year. Analysts expected revenue of $1.64 billion for the quarter.