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Marvell (MRVL) Stock Surges in After-Hours Trading on Outlook

NEW YORK (TheStreet) -- Shares of Marvell Technology (MRVL) are up 7.11% to $12.50 in after-hours trading on Wednesday as better-than-expected 2017 second-quarter guidance overshadows a first-quarter earnings and revenue miss.

After the market close, the company said it expects 2017 second quarter earnings per share between 10 cents and 12 cents on revenue between $625 million and $635 million. Analysts are looking for earnings of 9 cents per share on revenues of $586 million.

For the first quarter, Marvell reported earnings of 1 cent per share, lower than analysts' estimates of 7 cents per share.

Revenue was $541 million, down approximately...