Marvell Technology (NASDAQ:MRVL) Monday morning raised its guidance for its fiscal second quarter ending August 1. The company now sees revenue for the quarter of $600 million to $630 million, up from $521 million in the May quarter. The Street had been looking for $559.3 million. Previous guidance had been for revenue of $540 million to $580 million.
The company said the revised outlook reflects “broad improvement in demand within multiple end-markets.” Marvell said it anticipates generating GAAP net income as a result of improved revenue.
MRVL Monday morning is up 27 cents, at $12.28.