Reported about 11 hours ago
Marvell Technology (MRVL) reported strong fourth-quarter earnings that exceeded analysts' expectations, including a 27% revenue increase to $1.82 billion and adjusted earnings rising to 60 cents per share. However, the stock dropped 15% in after-hours trading as its future outlook did not meet high expectations set by analysts, particularly regarding AI growth. The projected first-quarter revenue and earnings per share were in line with analyst forecasts but did not impress investors, leading to a decline despite a year-to-date stock increase.
Source: YAHOO