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Marvell: Fiscal Q1 Earnings Snapshot

Associated Press Finance
·1 min read

WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Marvell Technology, Inc. (MRVL) on Thursday reported a loss of $215.6 million in its fiscal first quarter.

On a per-share basis, the Wilmington, Delaware-based company said it had a loss of 25 cents. Earnings, adjusted for amortization costs and stock option expense, came to 24 cents per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The chipmaker posted revenue of $1.16 billion in the period, also beating Street forecasts. Twelve analysts surveyed by Zacks expected $1.15 billion.

For the current quarter ending in July, Marvell expects its per-share earnings to range from 24 cents to 34 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