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Marvell Technology Q2 Earnings Top Estimates

By Yasin Ebrahim

Investing.com - Marvell Technology reported Thursday better-than-expected second-quarter profit, led by strong growth in its data center business.

Marvell Technology (NASDAQ:MRVL) was DOWN 1.9% in afterhours trading following the report.

The chipmaker reported Q2 adjusted earnings per share of 57 cents on revenue of $1.52 billion, compared with estimates for 56 cents on revenue of $1.52 billion.

Revenue grew substantially in each of its five end markets - data center, carrier infrastructure, enterprise networking, consumer, and automotive/industrial -- with data center, which makes up the bulk of growth, rising 48% year over year in Q2.

Looking ahead the company said it expects "sequential revenue growth to accelerate in the fourth quarter as supply constraints begin to ease." 

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.