Benzinga | Aug 26, 2021 04:21PM EDT

Marvell Technology: Q2 Earnings Insights

Shares of Marvell Technology (NASDAQ:MRVL) decreased 0.0% after the company reported Q2 results.

Quarterly Results

Earnings per share increased 61.90% over the past year to $0.34, which beat the estimate of $0.31.

Revenue of $1,076,000,000 up by 47.95% from the same period last year, which missed the estimate of $1,080,000,000.

Guidance

Marvell Technology hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Aug 26, 2021

Time: 04:45 PM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/2688/42416

Price Action

Company's 52-week high was at $63.44

52-week low: $34.55

Price action over last quarter: Up 24.56%

Company Description

Marvell Technology is a leading fabless chipmaker focused on networking and storage applications. Marvell serves the data center, carrier, enterprise, automotive, and consumer end markets with processors, optical interconnections, application-specific integrated circuits (ASICs), and merchant silicon for ethernet applications. The firm is an active acquirer, with five large acquisitions since 2017 helping it pivot out of legacy consumer applications to focus on the cloud and 5G markets.