Marvell Technology Q3 results beat despite data center weakness

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Written By Pinang Driod


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

Marvell Technology (NASDAQ:MRVL) was up 1.6% in afterhours trading following the report.

The chipmaker 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, 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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