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Marvell Technology cuts outlook, shares fall
October 18, 2012 / 8:27 PM / in 5 years

Marvell Technology cuts outlook, shares fall

SAN FRANCISCO (Reuters) - Chipmaker Marvell (MRVL.O) said it expects revenue in the current quarter to be between $765 million and $785 million, less than expected, pointing to a troubled economy and a weak personal computer market.

Its shares were down 4.3 percent after the bell as it also announced that Chief Financial Officer Clyde Hosein had resigned to pursue other opportunities.

Analysts on average expected revenue for the quarter, which ends at the end of October, to be $813.4 million, according to Thomson Reuters I/B/E/S.

Reporting By Noel Randewich; Editing by Tim Dobbyn

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