August 16, 2012 / 8:20 PM / 5 years ago

Marvell 2nd-qtr misses expectations

Aug 16 (Reuters) - Chipmaker Marvell Technology Group Ltd’s second-quarter results missed estimates on sputtering PC sales and market share losses at its mobile chips business, sending its shares down 8 percent in extended trade.

Profit for the second quarter fell to $93 million, or 16 cents a share, from $192 million, or 31 cents a share, a year earlier.

Excluding one-time charges, it earned 24 cents a share.

Revenue fell 9 percent to $816 million.

Analysts were looking for a profit of 26 cents a share on revenue of $852 million, according to Thomson Reuters I/B/E/S.

Its shares closed up 3 percent at $12.28 on Thursday on the Nasdaq.

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