Marvell Technology slips as Q2 results, guidance in-line with expectations
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Marvell Technology (NASDAQ:MRVL) shares fell around 2.5% in extended-hours trading on Thursday as the semiconductor company posted second-quarter results and guidance that was largely in-line with expectations. 
For the period ending July 29, Marvell (MRVL) earned an adjusted 33 cents per share on $1.34B in revenue. A consensus of analysts were looking for earnings of 32 cents per share, excluding one-time items and $1.33B in revenue.
Looking ahead, the company expects third-quarter sales to be $1.4B, plus or minus 5%, with adjusted earnings between 35 and 45 cents per share.
Analysts were looking for earnings of 40 cents per share and $1.39B in revenue.
Adjusted gross margins for the period are expected to fall within a range of 60.3% to 61.3%, below the estimate of 61.7%.
Marvell (MRVL) will host a conference call at 4:45 p.m. EST to discuss the results.

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