Marvell's Third-quarter Earnings In Line With Outlook

Marvell Technology Group Ltd. late Thursday reported its third-quarter net income rose to $115.3 million, or 22 cents a share, from $103.2 million, or 21 cents a share, a year ago. On an adjusted basis, the chip maker earned 29 cents a share, in line with Wall Street's estimate. Revenue edged down to $930.1 million from $931.2 million. Shares of Marvell were off 3.8% after hours.

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