MarketWatch First Take: Undaunted, Broadcom will still look for deals, but smaller ones

Broadcom Ltd., a few days after President Donald Trump blocked what would have been the biggest deal in tech history, remains undaunted and will look for other companies to acquire, albeit on a smaller scale.

On Thursday, the Singapore-based technology conglomerate reported better-than-expected first-quarter earnings, thanks to huge growth in its wireless business, which surged 88%. The company’s conference call was its first with analysts since Trump earlier this week blocked its attempt to win seats on Qualcomm Inc.’s board.

“Although we are disappointed with this outcome, we will comply with the order issued on Monday … regarding the proposed transaction,” said Tom Krause, Broadcom’s chief financial officer.

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