Aug 24 (Reuters) - Chipmaker Marvell Technologies (MRVL.O) posted a fall in second-quarter revenue, as weak enterprise market along with economic uncertainty weighed on demand for its chips and networking hardware.
Shares of the California-based company fell 5% in after-market tradingCompanies are holding off on upgrades to their technology infrastructure as an uncertain economic outlook clouds future prospects.
Marvell forecast per share earnings of 40 cents, plus or minus 5 cents for the third quarter, which was in line with expectations, according to Refinitiv data.
Its revenue fell 12% from a year earlier to $1.34 billion.
On an adjusted basis, the company earned 33 cents compared with estimates of a profit of 32 cents.
Persons:
Zaheer Kachwala, Krishna Chandra
Organizations:
Chipmaker Marvell Technologies, Marvell, Thomson
Locations:
California, China, Bengaluru