Benzinga | Dec 2, 2021 04:33PM EST

Marvell Technology: Q3 Earnings Insights

Marvell Technology (NASDAQ:MRVL) reported its Q3 earnings results on Thursday, December 2, 2021 at 04:00 PM.

Here's what investors need to know about the announcement.

Earnings

Marvell Technology beat estimated earnings by 13.16%, reporting an EPS of $0.43 versus an estimate of $0.38, which surprised analysts.

Revenue was up $460,857,000.00 from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.03, which was followed by a 3.0% drop in the share price the next day.

Here's a look at Marvell Technology's past performance:



Quarter Q2 2022 Q1 2022 Q4 2021 Q3 2021EPS Estimate 0.31 0.27 0.29 0.25EPS Actual 0.34 0.29 0.29 0.25Revenue Estimate 1.08B 804.21M 794.32M 750.97MRevenue Actual 1.08B 832.28M 797.82M 750.14M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Marvell Technology management provided guidance for their next quarter, expecting earnings between $0.35 and $0.41 per share for the nextquarter.

This represents a -11.63% in quarter-over-quarter growth for Marvell Technology, a bearish signal to many investors.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.