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Marvell Technology Third Quarter 2023 Earnings: Misses Expectations

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).

earnings-and-revenue-growth
earnings-and-revenue-growth

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.

Performance of the American Semiconductor industry.

The company's shares are up 4.0% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Marvell Technology that you need to take into consideration.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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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