Investing.com - Marvell reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that was inline with expectations.
Marvell announced earnings per share of $0.57 on revenue of $1.52B. Analysts polled by Investing.com anticipated EPS of $0.5644 on revenue of $1.52B.
Marvell shares are down 14.72% from the beginning of the year and are trading at $55.09 , down-from-52-week-high.They are outperforming the Nasdaq which is down 19.21% from the start of the year.
Marvell follows other major Information Technology sector earnings this month
Marvell's report follows an earnings beat by Apple on Thursday, July 28, 2022, who reported EPS of $1.2 on revenue of $82.96B, compared to forecasts EPS of $1.16 on revenue of $82.79B.
NVIDIA had missed expectations on Wednesday with second quarter EPS of $0.51 on revenue of $6.7B, compared to forecast for EPS of $0.5297 on revenue of $6.83B.
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