Marvell: Fiscal Q3 Earnings Snapshot
WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Marvell Technology, Inc. (MRVL) on Thursday reported a loss of $164.3 million in its fiscal third quarter.
On a per-share basis, the Wilmington, Delaware-based company said it had a loss of 19 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 41 cents per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The chipmaker posted revenue of $1.42 billion in the period, also exceeding Street forecasts. Twelve analysts surveyed by Zacks expected $1.4 billion.
For the current quarter ending in January, Marvell expects its per-share earnings to range from 41 cents to 51 cents.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRVL at https://www.zacks.com/ap/MRVL