(Reuters) - NEW YORK, July 19 - Chip maker Broadcom Corp.
posted a lower second-quarter profit on Thursday on
weakness in its cable modem and wireless business, but forecast
a recovery, helping to boost its shares.
The stock rose 1.2 percent in after-hours trade to $34.40,
after closing up 5 percent on news that it and Verizon
Wireless, a venture of Verizon Communications Inc. and
Vodafone Group Plc , had reached a licensing deal.
Read more at Reuters.com Market News
posted a lower second-quarter profit on Thursday on
weakness in its cable modem and wireless business, but forecast
a recovery, helping to boost its shares.
The stock rose 1.2 percent in after-hours trade to $34.40,
after closing up 5 percent on news that it and Verizon
Wireless, a venture of Verizon Communications Inc. and
Vodafone Group Plc , had reached a licensing deal.
Read more at Reuters.com Market News
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