— Record 2013 Net Revenue: $8.31 billion —

— Raises Quarterly Cash Dividend by Nine Percent to $.12 Per Share —

Broadcom Corporation (NASDAQ: BRCM), a global innovation leader in semiconductor solutions for wired and wireless communications, today reported unaudited financial results for its fourth quarter and year ended December 31, 2013. The Company also announced a nine percent increase to its quarterly dividend.

"In 2013 Broadcom delivered record revenue in all three business groups. Continued strength in our Infrastructure Business Group drove Q4 revenue and earnings ahead of expectations," said Scott McGregor, Broadcom's President and Chief Executive Officer. "Looking into 2014, we are building momentum in LTE, setting the stage for Ultra HD and powering next generation service provider and data center networks."

Net revenue for the fourth quarter of 2013 was $2.06 billion. This represents a decrease of 3.8% compared with the $2.15 billion reported for the third quarter of 2013 and a decrease of 0.8% compared with the $2.08 billion reported for the fourth quarter of 2012. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the fourth quarter of 2013 was $168 million, or $0.29 per share (diluted), compared with GAAP net income of $316 million, or $0.55 per share (diluted), for the third quarter of 2013 and GAAP net income of $251 million, or $0.43 per share (diluted), for the fourth quarter of 2012.

Net revenue for the year ended December 31, 2013 was $8.31 billion. This represents an increase in net revenue of 3.7% from the $8.01 billion reported for the year ended December 31, 2012. Net income computed in accordance with GAAP for the year ended December 31, 2013 was $424 million, or $0.73 per share (diluted), compared with GAAP net income of $719 million, or $1.25 per share (diluted), for the year ended December 31, 2012.

GAAP net income for the third quarter of 2013 included a one-time, non-recurring settlement gain of $75 million and a charitable contribution to the Broadcom Foundation of $25 million, for a total positive impact to GAAP net income per share of $0.09.

GAAP net income for the twelve months ended December 31, 2013 included a purchased intangible impairment charge of $501 million, or $0.87 per share, which was primarily related to Broadcom's acquisition of NetLogic Microsystems, Inc.

In addition to GAAP results, Broadcom reports adjusted net income and adjusted net income per share, referred to respectively as "non-GAAP net income" and "non-GAAP diluted net income per share." A discussion of Broadcom's use of these and other non-GAAP financial measures is set forth below. Reconciliations of GAAP to non-GAAP financial measures for the three months ended December 31, 2013, September 30, 2013 and December 31, 2012, respectively, and the years ended December 31, 2013 and 2012 appear in the financial statements portion of this release under the heading "Unaudited Schedule of Selected GAAP to Non-GAAP Adjustments."

Non-GAAP net income for the fourth quarter of 2013 was $366 million, or $0.60 per share (diluted), compared with non-GAAP net income of $460 million, or $0.76 per share (diluted), for the third quarter of 2013 and non-GAAP net income of $462 million, or $0.76 per share (diluted), for the fourth quarter of 2012. Non-GAAP net income for the year ended December 31, 2013 was $1.66 billion, or $2.72 per share (diluted), compared with non-GAAP net income of $1.76 billion, or $2.92 per share (diluted), for the year ended December 31, 2012.

Conference Call Information

As previously announced, Broadcom will conduct a conference call with analysts and investors to discuss its fourth quarter 2013 financial results and current financial prospects today at 1:45 p.m. Pacific Time (4:45 p.m. Eastern Time). The company will broadcast the conference call via webcast over the Internet. To listen to the webcast, or to view the financial and other statistical information required by Securities and Exchange Commission (SEC) Regulation G, please visit the Investors section of the Broadcom website at www.broadcom.com/investors. The webcast will be recorded and available for replay until 11:59 p.m. Pacific Time on Friday, February 21, 2014.

The financial results included in this release are unaudited. The audited financial statements of the company for the year ended December 31, 2013 will be included in Broadcom's Annual Report on Form 10-K, filed with the SEC as soon as practicable.

About Broadcom

Broadcom Corporation (NASDAQ: BRCM ), a FORTUNE 500 <