Marvell Technology Boosts Q3 Revenue Guidance on Rise in Demand (MRVL)
Mon. October 26, 2009; Posted: 06:48 AM
Oct 26, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 10/26/2009-Marvell Technology Group (NASDAQ:MRVL) issued a press release Monday updating its outlook for its fiscal third-quarter of 2010 which ends October 31, 2009. The company expects Q3 revenues of $760 million to $775 million (vs. consensus estimates of $710.6 million, representing an increase of 19% to 21% sequentially. The company said its adjusted outlook is due to "broad improvement in demand within multiple end markets." Marvell's previously forecasted Q3 outlook was a range of $680 million to $730 million.
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