Marvell (MRVL) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended April 2023, Marvell Technology (MRVL) reported revenue of $1.32 billion, down 8.7% over the same period last year. EPS came in at $0.31, compared to $0.52 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.3 billion, representing a surprise of +1.60%. The company delivered an EPS surprise of +6.90%, with the consensus EPS estimate being $0.29.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Marvell performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenue by End Market- Data Center: $435.80 million versus $422.46 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -32% change.

• Revenue by End Market- Carrier Infrastructure: $289.90 million compared to the $289.82 million average estimate based on five analysts. The reported number represents a change of +15% year over year.

• Revenue by End Market- Automotive/Industrial: $89.30 million versus the five-analyst average estimate of $89.55 million. The reported number represents a year-over-year change of 0%.

• Revenue by End Market- Consumer: $142.10 million compared to the $161.73 million average estimate based on five analysts. The reported number represents a change of -20.4% year over year.

• Revenue by End Market- Enterprise Networking: $364.60 million versus the five-analyst average estimate of $336.69 million. The reported number represents a year-over-year change of +27.2%.

View all Key Company Metrics for Marvell here>>>

Shares of Marvell have returned +20.8% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Marvell Technology, Inc. (MRVL) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research