Marvell Technology Reports Solid Earnings. Investors Seem Disappointed.

📆 25.08.2023 01:53:00
📰 MarketWatch

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Management said it expects sequential growth in revenue to speed up in the third quarter, but the stock fell in after-hours trading.

Marvell Technology posted earnings results and gave financial guidance slightly above Wall Street expectations. But after the stock’s big rally this year, investors were likely hoping for more upside.

Management’s financial outlook was roughly in line as well. Marvell forecast a range of potential revenue for the current quarter with a midpoint of $1.4 billion, compared with the consensus view that revenue will be $1.39 billion.

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