Marvell Technology Group Ltd. announced its financial results for the first quarter of fiscal year 2019. Net revenues for Q1 2018 were $605 million, an increase of 6%, compared to $573 million in Q1 2017. The increase in revenues was driven by strong performance of the storage, networking and connectivity businesses. Net income for Q1 2018 was $128.61 million, an increase of 21%, compared to $106.62 million in Q1 2017.
Looking forward to financial outlook for second quarter of fiscal 2019, company expects the revenues to be in the range of $600 million to $630 million.
