Marvell Tech Q2 EPS $0.33 Beats $0.32 Estimate, Sales $1.34B Beat $1.33B Estimate
Portfolio Pulse from Benzinga Newsdesk
Marvell Tech (NASDAQ:MRVL) reported Q2 earnings of $0.33 per share, beating the analyst consensus estimate of $0.32 by 3.13%. However, this is a 42.11% decrease from the same period last year. The company also reported quarterly sales of $1.34 billion, beating the estimate of $1.33 billion by 0.75%, but this is an 11.67% decrease from last year.
August 24, 2023 | 8:07 pm
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Marvell Tech's Q2 earnings and sales beat estimates but are down YoY. This mixed result could lead to uncertain market reactions.
Marvell Tech's earnings beat estimates, which is typically a positive signal for the stock. However, the YoY decrease in both earnings and sales could be a concern for investors, potentially leading to a mixed or uncertain market reaction.
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