Marvell Technology (MRVL) Issues Warning on Q4 Revenue

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Go back to Marvell Technology (MRVL) Issues Warning on Q4 Revenue

Marvell Technology Group Ltd. Announces Preliminary Estimate of Fourth Quarter Fiscal 2019 Revenue Range and Date of Earnings Conference Call

February 6, 2019 4:30 PM EST

SANTA CLARA, Calif., Feb. 6, 2019 /PRNewswire/ -- Marvell Technology Group Ltd. (NASDAQ: MRVL), a leader in infrastructure semiconductor solutions, today announced an estimated revenue range for its fourth quarter of fiscal 2019, which ended on February 2, 2019. 

Marvell now expects its fourth-quarter fiscal 2019 preliminary unaudited revenue to be in the range of $735 million to $745 million, below its previously announced guidance range of $790 million to $830 million.

The majority of Marvell's fourth-quarter revenue shortfall was due to a weaker than expected storage controller business. Marvell believes that demand for its products was impacted primarily... More