Marvell Technology forecasts first quarter revenue below estimates-February 2024-www.financetom.com

Marvell Technology forecasts first quarter revenue below estimates

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Marvell Technology forecasts first quarter revenue below estimates

Mar 7, 2024 1:27 PM

March 7 (Reuters) - Chipmaker Marvell Technology

forecast first-quarter revenue below market

expectations on Thursday, hurt by weak demand for its custom

chips used in artificial intelligence applications.

The company expects net revenue to be $1.15 billion, plus or

minus 5%, compared with estimates of $1.37 billion, according to

LSEG data.

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