RTTNews | Mar 3, 2021 04:10PM EST

16:09 Wednesday, March 3, 2021 (RTTNews.com) - Marvell Technology Group Ltd. (MRVL) announced a profit for fourth quarter that declined from the same period last year.

The company's earnings came in at $0.01 billion, or $0.02 per share. This compares with $1.77 billion, or $2.62 per share, in last year's fourth quarter.

Excluding items, Marvell Technology Group Ltd. reported adjusted earnings of $200.62 million or $0.29 per share for the period.

Analysts had expected the company to earn $0.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.2% to $797.82 million from $717.67 million last year.

Marvell Technology Group Ltd. earnings at a glance:

-Earnings (Q4): $200.62 Mln. vs. $116.72 Mln. last year.-EPS (Q4): $0.29 vs. $0.17 last year.-Analysts Estimate: $0.29-Revenue (Q4): $797.82 Mln vs. $717.67 Mln last year.

-Guidance:Next quarter EPS guidance: $0.23 to $0.31

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