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0.00247299888967387 0.0030281619057232 0.00242252952457853 0.00736852730392641 0.0062582012718279 0.0149389320682345 0.0121025537498738 0.0121025537498738
Stock impact report

Why Is Marvell Technology (MRVL) Stock Soaring Today [Yahoo! Finance]

Marvell Technology, Inc. (MRVL) 
Last marvell technology, inc. earnings: 3/4 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: marvell.com/company/investor_relations
Company Research Source: Yahoo! Finance
Shares of networking chips designer Marvell Technology (NASDAQ: MRVL) jumped 5.2% in the afternoon session after investors looked past the company's in-line third-quarter revenue to focus on its better-than-expected profits and strong forward guidance. For its third quarter, Marvell reported adjusted earnings of $0.76 per share, beating Wall Street's consensus estimates by 3%. Revenue came in at $2.07 billion, matching expectations and representing a 36.8% increase from the same period last year. Looking ahead, the company provided an optimistic outlook, forecasting fourth-quarter revenue of around $2.2 billion and adjusted earnings per share of $0.79, both of which were ahead of analyst predictions. The positive move came after the stock initially fell following the earnings release, suggesting that investors had digested the report and were now focused on the company's solid profitability and encouraging growth trajectory. Show less Read more
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