Reuters logo
Chipmaker Marvell's revenue dips 1.2 pct in third quarter
November 28, 2017 / 9:14 PM / 13 days ago

Chipmaker Marvell's revenue dips 1.2 pct in third quarter

Nov 28 (Reuters) - Chipmaker Marvell Technology Group Ltd’s revenue fell 1.2 percent in the third quarter, as it sold fewer chips used in hard disk drives.

Marvell said on Tuesday its net revenue slipped to $616.3 million in the quarter ended Oct. 28, from $623.7 million, a year earlier.

The company’s net income from continuing operations rose to $149.4 million or 30 cents per share, from $83.2 million or 16 cents per share.

The results come days after Marvell said it would buy smaller rival Cavium Inc for about $6 billion, as it seeks to expand its wireless connectivity business. (Reporting by Arjun Panchadar in Bengaluru; editing by Sai Sachin Ravikumar)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below