Investing.com - Marvell reported on Thursday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Marvell announced earnings per share of $0.5 on revenue of $1.34B. Analysts polled by Investing.com anticipated EPS of $0.4817 on revenue of $1.32B.
Marvell shares are down 25% from the beginning of the year and are trading at $65.20 , down-from-52-week-high.They are under-performing the Nasdaq 100 which is down 14% from the start of the year.
Marvell follows other major Information Technology sector earnings this month
Marvell's report follows an earnings beat by NVIDIA on Wednesday, February 16, 2022, who reported EPS of $1.32 on revenue of $7.64B, compared to forecasts EPS of $1.23 on revenue of $7.42B.
Cisco had beat expectations on Wednesday, February 16, 2022 with second quarter EPS of $0.84 on revenue of $12.72B, compared to forecast for EPS of $0.81 on revenue of $12.66B.
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