Broadcom Corp. Posts Profits of $7.7 Million for 1st Quarter

Broadcom Corp., which became a stock market superstar when the Irvine company went public last week, posted a profit of $7.7 million, or 19 cents a share, for the first quarter, compared with a loss of $763,000, or 3 cents a share, a year ago.

Revenue surged to $35.3 million from $5 million.

The company, which designs chips that speed Internet transmissions over ordinary phone and television lines, went public last week. The stock, which initially was priced at $24 a share, soared to $70 in its debut.

The company disclosed its earnings Wednesday after the market closed. The stock was unchanged at $55.25.