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Marvell revenue jumps as demand rises for 4G chips

23
May
2014

(Reuters) – Marvell Technology Group Ltd reported a 30 percent jump in quarterly revenue due to higher demand for its chips, used in fourth-generation (4G) mobile communication. Marvell’s shares rose 2 percent in extended trading on Thursday. Revenue for the first quarter ended May 3 rose to $957.8 million, the company said in a statement. Net income rose to $99.5 million, or 19 cents per share, from $53.2 million, or 11 cents per share, a year earlier. (Reporting by Sampad Patnaik in Bangalore; Editing by Robin Paxton)

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