Why Marvell Technology Shares Are Flying After-Hours
Portfolio Pulse from AJ Fabino
Marvell Technology Inc (NASDAQ:MRVL) reported better-than-expected Q1 earnings with EPS of 31 cents and revenues of $1.322 billion. The company's AI segment is expected to double its revenue in fiscal 2024. Shares rose 16.45% to $57.61 in after-hours trading.
May 25, 2023 | 9:03 pm
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Marvell Technology's Q1 earnings beat estimates, and the company expects its AI segment to double revenue in fiscal 2024. Shares rose 16.45% in after-hours trading.
Marvell Technology reported better-than-expected Q1 earnings, which is a positive sign for investors. The company's AI segment is expected to double its revenue in fiscal 2024, indicating strong growth potential. This news is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100