Daily Market Updates: Marvell shares tumble 6% after fiscal 2028 outlook disappoints

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Marvell shares tumble 6% after fiscal 2028 outlook disappoints

Marvell posted a second-quarter revenue beat, but investors focused on its fiscal 2028 outlook, which fell short of expectations.

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Marvell Technology shares slid 6% on Friday, as the company’s earnings failed to satisfy investors despite a revenue beat in the second quarter, CNBC World reports.

The stock drop followed Marvell’s fiscal 2028 outlook, which the market viewed as underwhelming relative to expectations.

CNBC Earnings also highlighted that Marvell’s revenue grew 37% in the quarter, but the guidance for fiscal 2028 did not meet what investors were looking for.

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Sources

CNBC WorldMarvell shares tumble 6% as outlook underwhelms despite 37% revenue growth

CNBC EarningsMarvell shares tumble 6% as outlook underwhelms despite 37% revenue growth

Earnings

Marvell shares tumble 6% after fiscal 2028 outlook disappoints

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Sources

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