Broadcom Rises After Earnings Top Estimates Amid Boom

Broadcom Corp., a maker of chips that help mobile devices connect to the Internet, rose the most since July after reporting first-quarter sales and profit that beat estimates as orders for tablet and handset parts increased.

First-quarter net income rose to $191 million, or 33 cents a share, from $88 million, or 15 cents, a year earlier, the Irvine, California-based company said yesterday in a statement. Sales increased 10 percent to $1.95 billion, beating the $1.91 billion projection. Profit excluding some items was 65 cents a share, topping a 56 cent estimate.