Marvell Technology Stock Climbs On Q2, Strong Q3 Guidance
Portfolio Pulse from Erica Kollmann
Marvell Technology reported Q2 earnings in line with expectations and sales slightly above estimates. The company anticipates strong growth in Q3, driven by demand in AI and networking markets, forecasting a 14% sequential revenue increase. Shares rose 6.77% after-hours.
August 29, 2024 | 8:47 pm
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Marvell Technology's Q2 earnings met expectations, with sales slightly exceeding estimates. The company forecasts a 14% sequential revenue increase in Q3, driven by AI and networking demand. Shares rose 6.77% after-hours.
Marvell's Q2 results were solid, with earnings in line and sales slightly above expectations. The strong Q3 guidance, particularly in AI and networking, suggests continued growth, positively impacting the stock price. The after-hours price increase reflects investor optimism.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100