In the forthcoming report from Marvell Technology, Inc. (MRVL), Wall Street analysts project quarterly earnings of $0.40 per share, representing a 29.6% plunge from the same period in the previous year. Revenue forecasts also suggest undulations as takings are expected to come in at $1.40 billion, a year-over-year drop of 8.9%. Economic fluctuations and a lackluster enterprise market have put a damper on demand for Marvell's chips and networking hardware.
Companies are holding off on upgrades to their technology infrastructure as an uncertain economic outlook clouds future prospects. Moreover, MRVL’s recovery in China has been weak as American legislation restricted the exports of certain chips to the country last year.
