Marvell Technology (MRVL) just released its latest quarterly financial results, posting adjusted earnings of 32 cents per share and revenues of $615 million.
Currently, MRVL is a Zacks Rank #4 (Sold), but that could change based on today's results. The stock is currently down 2.6% to $23.68 per share in after-hours trading shortly after its earnings report was released.
Marvell Technology:
Beat earnings estimates . The company posted non-GAAP earnings of $0.32 per share, beating the Zacks Consensus Estimate of $0.31.
Beat revenue estimates . The company saw revenue figures of $615.41 million, beating our consensus estimate of $611.65 million.
"Our strong fourth quarter and fiscal year results continue to demonstrate that Marvell's strategy is working and that our team is executing it very well," said CEO Matt Murphy. "We are making tremendous progress in the transformation of Marvell, and I look forward to the year ahead."
For the first quarter, Marvell expects revenue to be in the range of $585 million to $615 million. Non-GAAP earnings per share are expected to be $0.29 to $0.33. Our latest Zacks Consensus Estimates are calling for the company to see revenue of $595 million and earnings of $0.29 per share.
Here's a graph that looks at Marvell's recent earnings performance:
Marvell Technology Group Ltd. Price, Consensus and EPS Surprise
Marvell Technology Group Ltd. Price, Consensus and EPS Surprise | Marvell Technology Group Ltd. Quote
Marvell Technology is a leading designer, developer and supplier of mixed-signal and digital signal processing integrated circuit for high-speed, high-density, digital data storage and broadband digital data networking markets.
Check back later for our full analysis on MRVL's earnings report!
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Marvell Technology Group Ltd. (MRVL): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
