Marvell Technology (NASDAQ:MRVL) Third Quarter 2023 Results
Key Financial Results
Revenue: US$1.54b (up 27% from 3Q 2022).
Net income: US$13.3m (up from US$62.5m loss in 3Q 2022).
Profit margin: 0.9% (up from net loss in 3Q 2022).
EPS: US$0.016 (up from US$0.075 loss in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Marvell Technology Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 81%.
Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Semiconductor industry in the US.
The company's shares are up 4.0% from a week ago.
It is worth noting though that we have found 1 warning sign for Marvell Technology that you need to take into consideration.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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