Investing.com - Marvell reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Marvell announced earnings per share of $0.18 on revenue of $693.6M. Analysts polled by Investing.com anticipated EPS of $0.14 on revenue of $678.6M. That with comparison to EPS of $0.16 on revenue of $662.45M in the same period a year before.Marvell had reported EPS of $0.17 on revenue of $717.67M in the previous quarter.Analysts are expecting EPS of $0.17 and revenue of $688.09M in the upcoming quarter.
Marvell shares are up 12% from the beginning of the year and are trading at $29.97 , down-from-52-week-high.They are outperforming the Nasdaq which is up 3.65% year to date.
Marvell follows other major Technology sector earnings this month
Marvell's report follows an earnings beat by Apple on Thursday, April 30, 2020, who reported EPS of $2.55 on revenue of $58.31B, compared to forecasts EPS of $2.24 on revenue of $54.78B.
Facebook had missed expectations on Wednesday, April 29, 2020 with first quarter EPS of $1.71 on revenue of $17.74B, compared to forecast for EPS of $1.74 on revenue of $17.33B.
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