WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Marvell Technology, Inc. (MRVL) on Thursday reported a fiscal fourth-quarter loss of $15.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Wilmington, Delaware-based company said it had a loss of 2 cents. Earnings, adjusted for one-time gains and costs, came to 46 cents per share.
The results met Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was also for earnings of 46 cents per share.
The chipmaker posted revenue of $1.42 billion in the period, surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $1.4 billion.
For the year, the company reported that its loss narrowed to $163.5 million, or 19 cents per share. Revenue was reported as $5.92 billion.
For the current quarter ending in April, Marvell expects its per-share earnings to range from 24 cents to 34 cents.
_____
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
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
