Marvell Technology Group: Q2 Earnings Insights

Shares of Marvell Technology Group (NASDAQ:MRVL) moved higher by 1.64% in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 31.25% over the past year to $0.21, which beat the estimate of $0.20.

Revenue of $727,000,000 higher by 10.73% year over year, which beat the estimate of $724,690,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Aug 27, 2020

Time: 04:45 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/iapnzzdn

Price Action

52-week high: $39.40

Company's 52-week low was at $16.45

Price action over last quarter: Up 11.74%

Company Profile

Marvell Technology designs integrated circuits primarily for data storage, networking, and communications. Historically, the firm focused on storage, where it is still a key supplier to hard-disk drive and solid-state drive makers but has strategically emphasized networking to offset declining HDD technology. The firm has since diversified via acquisitions and supplies chips to the networking and consumer electronic spaces. Marvell outsources its production to third-party foundries.