U.S. stock abnormal movement | Q3 earnings guidance lower than expected, Marvell Technology (MRVL.US) plunges over 16%

According to the Wise Finance APP, on Friday, Marvell Technology Group (MRVL.US) opened with a sharp drop of over 16%, trading at $64.65 per share. On the news front, the company's performance guidance fell short of expectations, disappointing investors. The financial report shows that Q2 revenue increased by 58% year-on-year to $2.01 billion, only meeting analyst expectations. Among them, data center business revenue increased by 69% year-on-year to $1.49 billion, falling short of the analyst average expectation of $1.51 billion. Adjusted earnings per share were $0.67, also only meeting analyst expectations. In today's market driven by the artificial intelligence (AI) boom, simply meeting expectations is no longer enough to satisfy investors.