Marvell Tech: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Marvell Tech (NASDAQ:MRVL) reported Q3 earnings with an EPS of $0.41, slightly beating estimates by 2.5% but with a revenue decline of $118 million from the previous year. The company's past earnings performance shows a pattern of beating EPS estimates but experiencing share price drops the following day.
November 30, 2023 | 9:10 pm
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Marvell Tech reported a slight beat on Q3 EPS estimates but saw a significant year-over-year revenue decline. Historical data indicates a potential drop in share price following earnings announcements.
Marvell Tech's earnings beat may be overshadowed by the revenue decline and historical share price drops post-earnings. The pattern of share price decline the day after beating EPS estimates in the past suggests a potential negative short-term impact on MRVL's stock price.
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IMPORTANCE 75
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