(Reuters) -Marvell Technology forecast third-quarter revenue below Wall Street estimates on Thursday, as economic uncertainty and tariff concerns weighed on customer spending and overall demand.
Shares of the company fell 8% in extended trading.
Macroeconomic volatility stemming from the fallout of a shifting U.S. trade policy has prompted enterprises to curb spending budgets as the possibility of a recession and high inflation looms.
The company expects quarterly revenue of $2.06 billion, plus or minus 5%, compared with analysts’ average estimate of $2.11 billion, according to data compiled by LSEG.
For the second quarter ended August 2, Marvell posted revenue of $2.01 billion, in line with analysts’ estimates.
(Reporting by Juby Babu in Mexico City; Editing by Alan Barona)
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