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Marvell Raises Revenue Forecast

Stock quotes in this article: MRVL  

Marvell Technology (MRVL Quote) raised its estimate for fiscal second-quarter net revenue to $600 million to $630 million, a sequential increase of 15% to 21% from the first quarter.

Marvell, in a statement Monday, said the increase in projected revenue is "due to broad improvement in demand within multiple end-markets." The company said it anticipates "generating GAAP net income as a result of improved revenue levels."

The chipmaker previously estimated second-quarter revenue at $540 million to $580 million. ...

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