Marvell Stock Slides On Softer Sales Forecast After Q2 Profit Beat

Updated at 10:31am EST

Marvell technology (MRVL) Shares fell in pre-market trading after the chipmaker posted a modestly firmer-than-expected second-quarter profit, but warned that supply chain disruptions would continue to put pressure on sales in the near term.

Marvel said current quarter revenue would likely be $1.56 billion, with gross margins in the region of 51.1% and non-GAAP earnings of about 59 cents a share, with the muted numbers related to what CEO Matt Murphy said were supply chain challenges that would “affect our ability to fully meet demand on a sequential basis.”

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