Inphi Corporation IPHI reduced its second-quarter earnings and sales guidance Wednesday as a result of the U.S. ban on American companies selling technology to the Chinese company Huawei.
Second-quarter revenue is now expected to be down 5 percent from previous guidance, Inphi said in a press release.
Inphi cut second-quarter sales guidance from a range of $86.8 million to $90.8 million vs. an $88.7-million estimate.
The company's adjusted EPS guidance was lowered from a range of 34-44 cents to 28-38 cents vs. a 38-cent estimate.
Inphi shares weer tradin up by 5.49 percent at $43.20 at the time of publication Wednesday.
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