Broadcom Q3 net down 19% as costs offset revenue gains

Broadcom Corp.'s third-quarter profit fell 19% as rising costs offset the chip maker's growing revenue.

For the current period, the company projects revenue of around $1.95 billion to $2.1 billion, shy of the $2.11 billion consensus estimate of analysts recently polled by Thomson Reuters.

Broadcom has benefited from its exposure to iPhone maker