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Marvell Technology Q3 results beat despite data center weakness

Investing.com - Marvell Technology reported Thursday better-than-expected third-quarter results despite weakness in its datacenter business.

Marvell (NASDAQ:MRVL) was up 1.3% in afterhours trading following the report.

The chipmaker reported Q3 adjusted EPS of $0.41 on revenue of $1.42 billion, compared with Wall Street estimates for $0.40 on revenue of $1.4B.

The company's data center unit, which makes up the 39% growth, saw revenue fall 11% to $555.8M in Q3 from a year earlier.

Looking ahead, the company forecast Q4 adjusted EPS of $0.41 to $0.51, in-line with Wall Street estimates of $0.49, while revenue is expected to come in at $1.42B, give or take 5%, was also in-line estimates of $1.46B. 

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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.