WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Marvell Technology, Inc. (MRVL) on Thursday reported a loss of $168.9 million in its fiscal first quarter.
On a per-share basis, the Wilmington, Delaware-based company said it had a loss of 20 cents. Earnings, adjusted for one-time gains and costs, came to 31 cents per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The chipmaker posted revenue of $1.32 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $1.3 billion.
For the current quarter ending in July, Marvell expects its per-share earnings to range from 27 cents to 37 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
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