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Broadcom profit beats as Qualcomm takeover fight intensifies


By Arjun Panchadar(Reuters) - Broadcom Ltd on Wednesday reported a better-than-expected quarterly profit and boosted its dividend by 72 percent, days after the chipmaker took its $103 billion bid for Qualcomm Inc hostile.Shares of Broadcom rose 5 percent in extended trading after the company also forecast first-quarter revenue largely above analysts' estimates.The company said on Monday it planned to field a slate of 11 nominees to Qualcomm's board, its first formal move towards a hostile bid for the U.S. chipmaker.Broadcom's move came after Qualcomm rejected its $70 per share bid, saying the ...

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First Published: Thu, December 07 2017. 10:28 IST