Marvell Tech's Q3: Strong Growth & Positive Outlook

Marvell Technologys Q3 earnings match Wall Streets expectations with $2.07 billion revenue, a 36.8% increase year-over-year. The company projects $2.2 billion revenue for Q4, 1% higher than analysts estimates. Non-GAAP profit of $0.76 per share beats estimates by 3%. Strong demand for data center products drives growth, with full-year revenue expected to exceed 40%. Inventory levels improve, with Days Inventory Outstanding at 92, 11 days below the 5-year average. Despite positive results, shares trade down 5.2% to $87.83.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.