Broadcom's fourth-quarter results exceed expectations

Broadcom Corp posted fourth-quarter results on Thursday that exceeded Wall Street's expectations as the chipmaker increased its focus on Wi-Fi and broadband chips. Broadcom, a leader in connectivity chips with features like Wi-Fi and Bluetooth, reported fourth-quarter revenue of $2.14 billion, up 3.8 percent from the year-ago period. Analysts on average had expected fourth-quarter revenue of $2.11 billion and expect first-quarter revenue of $2.01 billion, according to Thomson Reuters I/B/E/