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kelvinred
2021-12-03

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Marvell Technology shares soared nearly 17% in premarket trading

Marvell Technology shares soared nearly 17% in premarket trading after the infrastructure chip maker

Marvell Technology shares soared nearly 17% in premarket trading

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Revenue jumped 61% year-over-year to a record $1.21 billion. Wall Street’s consensus estimates called for adjusted earnings of 38 cents a share and revenue of $1.15 billion.</p>\n<p>CEO Matt Murphy said in the earnings release that revenue growth grew in each of Marvell’s five businesses, including 109% year-over-year growth in its data center business, which accounted for 41% of Marvell’s total revenue.</p>\n<p>The company forecasts fiscal fourth-quarter non-GAAP earnings between 45 cents a share and 51 cents a share with revenue of $1.32 billion at the midpoint of its outlook range. Wall Street’s consenus estimates anticipated January quarter non-GAAP earnings of 42 cents a share and revenue of $1.21 billion.</p>\n<p>“For the fourth quarter, we are expecting sequential revenue growth of 9% at the midpoint of guidance, led by 5G, which is projected to increase by 30% sequentially and data center which is forecasted to continue to grow in the double digits on a percentage basis,” Murphy added.</p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRVL":"迈威尔科技"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107458152","content_text":"Marvell Technology shares soared nearly 17% in premarket trading after the infrastructure chip maker delivered investors a better-than-expected earnings report and outlook.\n\n\nMarvell reported fiscal third-quarter non-GAAP net income of $364 million, or 43 cents a share. 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Wall Street’s consenus estimates anticipated January quarter non-GAAP earnings of 42 cents a share and revenue of $1.21 billion.\n“For the fourth quarter, we are expecting sequential revenue growth of 9% at the midpoint of guidance, led by 5G, which is projected to increase by 30% sequentially and data center which is forecasted to continue to grow in the double digits on a percentage basis,” Murphy added.","news_type":1},"isVote":1,"tweetType":1,"viewCount":710,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":31,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Marvell Technology shares soared nearly 17% in premarket trading

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