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Marvell: Fiscal Q1 Earnings Snapshot

WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Marvell Technology, Inc. (MRVL) on Wednesday reported fiscal first-quarter profit of $34.5 million.

The Wilmington, Delaware-based company said it had profit of 4 cents per share. Earnings, adjusted for one-time gains and costs, were 80 cents per share.

The results met Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was also for earnings of 80 cents per share.

The chipmaker posted revenue of $2.42 billion in the period, which beat Street forecasts. Eleven analysts surveyed by Zacks expected $2.4 billion.

For the current quarter ending in July, Marvell expects its per-share earnings to range from 88 cents to 98 cents.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRVL at https://www.zacks.com/ap/MRVL

One Tech Tip: What to know about flying with lithium ion portable battery chargers

Jetting off soon for summer travels? If you're planning on bringing an extra battery charger for your phone or other devices, be aware of the latest rules when taking one on a flight. Rechargeable lithium-ion portable battery chargers, also known as power banks, come in protective enclosures of various shapes and sizes. They're a handy and popular way for getting more juice when you're on the move. But after a spate of smoke or fire incidents, U.S. and international aviation authorities have issued new guidelines and airlines have tightened up rules for passengers. Here's a guide on flying with power banks.
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