Marvell: Raises Guidance on Improving Demand

| About: Marvell Technology (MRVL)

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.

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