Marvell

Marvell Tech (NASDAQ:MRVL) reported quarterly earnings of $0.31 per share which beat the analyst consensus estimate of $0.29. This is a 40.38 percent decrease over earnings of $0.52 per share from the same period last year. The company reported quarterly sales of $1.32 billion which beat the analyst consensus estimate of $1.30 billion. This is a 8.64 percent decrease over sales of $1.45 billion the same period last year.

Marvell Technology, Inc. (NASDAQ:MRVL) Announces Quarterly Dividend of $0.06, , Payable April 26 to Shareholders of Record on April 7

Marvell (NASDAQ:MRVL) will cut 320 jobs, 4 percent of the company’s workforce.

March 2, 2023 — Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the fourth fiscal quarter and the full fiscal year, ended January 28, 2023. Marvell Technology (NASDAQ:MRVL) reported fiscal Q4 adjusted earnings of $0.46 per diluted share, Analysts polled by Capital IQ estimated 0.47 per share. Revenue for the quarter ended Jan. 28 was $1.42 billion, Analysts surveyed by Capital IQ forecast $1.41 billion. The commpany said it projects fiscal Q1 adjusted EPS of $0.24 to $0.34 on revenue of $1.30 billion, plus or minus 5%. Analysts polled by Capital IQ are looking for an adjusted EPS of $0.41 and revenue of $1.39 billion. Net revenue for the fourth quarter of fiscal 2023 was $1.419 billion, above the midpoint of the Company’s guidance provided on January 11, 2023. GAAP net loss for the fourth quarter of fiscal 2023 was $(15) million, or