Apple Supplier Broadcom to Slash 1,900 Jobs Globally

Shares of Broadcom, which also supplies to Apple Inc, were up 8 percent at $148.20 in extended trading on Thursday.

The company said it expects to take charges of about $650 million related to the job cuts through 2018.

Avago completed its $37 billion deal for Broadcom last month.

Revenue for the legacy Avago business fell 4 percent to $1.77 billion in the three months ended Jan. 31.

On an adjusted basis, the company reported revenue of $1.78 billion, above the $1.75 billion analysts' on average had expected, according to Thomson Reuters I/B/E/S.

The company's net income fell to $377 million, or $1.30 per share, in the first quarter, from $429 million, or $1.49 per share, a year earlier.

Excluding items, the company earned $2.41 per share, well above the average analyst estimate of $2.30.

Broadcom forecast adjusted revenue of $3.55 billion, plus or minus $75 million, for its second quarter ending April. Analysts on average were expecting $3.57 billion.

© Thomson Reuters 2016