May 21, 2015 5:54 PM | 1 min read |
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
(NASDAQ: MRVL) reported better-than-expected earnings for the first quarter. However, the company reported downbeat Q1 revenue and issued a weak forecast for the second quarter.The Hamilton, Bermuda-based company reported quarterly net income of $14.1 million, or $0.03 per share, compared to $99.5 million, or $0.19 per share, in the year-ago period. Excluding items the company's earnings declined to $0.13 per share from $0.27 per share.Its revenue slipped 24.4 percent year-over-year to $724.3 million. However, analysts were expecting earnings of $0.10 per share on revenue of $733.83 million.The average estimate among 18 Estimize users was for earnings of $0.14 per share and revenue of $733.46 million.GAAP gross margin for the first quarter widened to 51.5 percent, from 48.4 percent in the year-ago quarter. Cash flow from operations slipped to $59 million for the first quarter, versus $235 million in the first quarter of fiscal 2015.During the quarter, Marvell repurchased around 1.4 million shares for a total of $22 million.For the current quarter, Marvell projects earnings of $0.10 to $0.12 per share, on revenue of $710 million to $740 million. Analysts had expected earnings of $0.15 per share on revenue of $775 million.Marvell Technology reported that Mike Rashkin will retire as chief financial officer effective May 22, 2015. The company named Sukhi Nagesh as interim CFO."Serving as the chief financial officer of Marvell over the last year and a half has been the most rewarding role of my professional career and I am proud of everything we have accomplished. Marvell continues to be at the forefront of many great and new technologies that I believe will change the world and I am confident in the future of the Company," said Mr. Rashkin.Marvell Technology shares fell 2.57 percent to $14.00 in the after-hours trading session.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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