Marvell Technology: Q3 Earnings Insights

Marvell Technology MRVL reported its Q3 earnings results on Thursday, December 2, 2021 at 04:00 PM.

Here's what investors need to know about the announcement.

Earnings

Marvell Technology beat estimated earnings by 13.16%, reporting an EPS of $0.43 versus an estimate of $0.38, which surprised analysts.

Revenue was up $460,857,000.00 from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.03, which was followed by a 3.0% drop in the share price the next day.

Here's a look at Marvell Technology's past performance:

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Marvell Technology management provided guidance for their next quarter, expecting earnings between $0.35 and $0.41 per share for the nextquarter.

This represents a -11.63% in quarter-over-quarter growth for Marvell Technology, a bearish signal to many investors.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.