Marvell Technology Inc. reported second-quarter adjusted earnings per share of $0.94, exceeding the $0.93 consensus estimate compiled by Refinitiv. Revenue totaled $2.74 billion, ahead of the $2.71 billion forecast.
The Santa Clara-based semiconductor supplier provided third-quarter guidance calling for adjusted EPS of $1.05 to $1.10, compared with the $1.08 analyst average. Revenue is projected at $3.15 billion, above the consensus of $3.04 billion.
Marvell’s stock closed at $241.42 on Tuesday, bringing its three-month gain to 17.77% and its 12-month advance to 212.60%. Over the past 90 days, 24 analysts raised their earnings estimates for the company while two issued cuts.
InvestingPro assigned Marvell a financial health score of “great performance,” reflecting its recent outperformance versus analyst expectations.
