Broadcom's first-quarter revenue slightly exceeds expectations

Reuters

SAN FRANCISCO, April 24 (Reuters) - Broadcom posted lower first-quarter revenue on Thursday that slightly exceeded Wall Street's expectations as the chipmaker faces growing competition in China's smartphone market.

Broadcom reported first-quarter revenue of $1.98 billion, down 1 percent from the year-ago period. Analysts on average had expected first-quarter revenue of $1.958 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Noel Randewich; Editing by Meredith Mazzilli)