Marvell: Fiscal Q2 Earnings Snapshot

WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Marvell Technology, Inc. (MRVL) on Thursday reported fiscal second-quarter profit of $308 million.

The Wilmington, Delaware-based company said it had net income of 33 cents per share. Earnings, adjusted for one-time gains and costs, came to 94 cents per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

The chipmaker posted revenue of $2.74 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $2.71 billion.

For the current quarter ending in October, Marvell expects its per-share earnings to range from $1.05 to $1.15.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRVL at https://www.zacks.com/ap/MRVL