Marvell: Fiscal Q3 Earnings Snapshot

WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Marvell Technology, Inc. (MRVL) on Tuesday reported fiscal third-quarter net income of $1.9 billion.

On a per-share basis, the Wilmington, Delaware-based company said it had net income of $2.20. Earnings, adjusted for one-time gains and costs, came to 76 cents per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The chipmaker posted revenue of $2.07 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $2.06 billion.

For the current quarter ending in January, Marvell expects its per-share earnings to range from 74 cents to 84 cents.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRVL at https://www.zacks.com/ap/MRVL