Earnings Surge at Marvell

The semiconductor company edges analysts' estimates.
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Updated from Aug. 19

Second-quarter earnings grew threefold at

Marvell Technology

(MRVL) - Get Report

, as revenue rose 54% on the strength of its consumer and enterprise markets.

In early Friday trading, Marvell's shares rose $1.40, or 6.4%, to $23.12.

The semiconductor maker said after the bell Thursday that net income rose to $28.6 million, or 10 cents a share, from $9.4 million, or 3 cents a share, a year earlier.

On a pro forma basis, which excludes various amortization and write-off costs, earnings rose to $59.7 million, or 20 cents a share, from $30 million, or 11 cents a share.

Revenue rose to $297.2 million from $192.9 million a year earlier.

Analysts were looking for Marvell to post pro forma earnings of 19 cents a share on revenue of $296.6 million.

Shares of Marvell were recently up 21 cents, or 0.8%, to $21.93 in late-session trading after closing the regular session down 5 cents to $21.72.