was down 10.5% in late trading after dipping as much as 13.8%.
The communications-chip maker's CEO said sales growth has been disappointing. Speaking at the
Banc of America Securities
said the company is not seeing the kind of results it expected when it gave first-quarter guidance Jan. 23. At that time, Broadcom said sales would be up 22% to 23% from the fourth quarter.
Salomon Smith Barney
cut its earnings estimate.