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Marvell Technology Group Ltd. Q2 adjusted earnings Miss Estimates

Marvell Technology Group Ltd. (MRVL) revealed a profit for second quarter that declined from last year.

The company's profit came in at $6.76 million, or $0.01 per share. This compares with $165.26 million, or $0.32 per share, in last year's second quarter.

Excluding items, Marvell Technology Group Ltd. reported adjusted earnings of $161.96 million or $0.28 per share for the period.

Analysts had expected the company to earn $0.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.0% to $665.31 million from $604.75 million last year.

Marvell Technology Group Ltd. earnings at a glance:

-Earnings (Q2): $161.96 Mln. vs. $153.47 Mln. last year.
-EPS (Q2): $0.28 vs. $0.30 last year.
-Analysts Estimate: $0.35
-Revenue (Q2): $665.31 Mln vs. $604.75 Mln last year.

-Guidance:
Next quarter EPS guidance: $0.30 to $0.34
Next quarter revenue guidance: $825 - $865 Mln

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