Marvell: Fiscal Q2 Earnings Snapshot
By AP News
Published - Aug 29, 2024, 04:19 PM ET
Last Updated - Aug 29, 2024, 04:19 PM EDT
WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Marvell Technology, Inc. (MRVL) on Thursday reported a loss of $193.3 million in its fiscal second quarter.
The Wilmington, Delaware-based company said it had a loss of 22 cents per share. Earnings, adjusted for one-time gains and costs, came to 30 cents per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The chipmaker posted revenue of $1.27 billion in the period, also exceeding Street forecasts. Twelve analysts surveyed by Zacks expected $1.25 billion.
