HomeMarket NewsMarvell Technologies Tops Q3 Expectations but Fumbles Guidance, Stock Climbs 2% After...

Marvell Technologies Tops Q3 Expectations but Fumbles Guidance, Stock Climbs 2% After Hours

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Marvell Technology office building in Santa Clara, California, USA

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Marvell Technologies (NASDAQ:MRVL) stock surged over 2% in after-hours trading on Thursday, following the release of its third-quarter results. The company managed to beat earnings expectations but provided a weak outlook for the next quarter.

Marvell (MRVL) achieved an adjusted earnings per share of 41 cents, slightly exceeding the projected 40 cents, while its revenue stood at $1.42B, dipping 8% year-over-year. Market analysts had forecasted the revenue to be $1.4B.

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