04:40 AM EDT, 08/29/2025 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Marvell Technology's ( MRVL ) shares were more than 12% lower in premarket activity on Friday after the company reported in-line earnings per share and sales in fiscal Q2, while the bottom end of its Q3 EPS guidance missed market expectations.

The company reported fiscal Q2 non-GAAP earnings Thursday of $0.67 per diluted share, up from $0.30 a year earlier.

Analysts polled by FactSet expected $0.67.

Net revenue for the quarter ended Aug. 2 was $2.01 billion, up from $1.27 billion a year earlier.

Analysts surveyed by FactSet expected $2.01 billion.

The company expects fiscal Q3 non-GAAP EPS of $0.74 plus or minus $0.05, and net revenue of $2.06 billion plus or minus 5%.

Analysts polled by FactSet expect $0.72 and $2.11 billion.

Price: 67.63, Change: -9.60, Percent Change: -12.43