WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Marvell Technology, Inc. (MRVL) on Tuesday reported a loss of $676.3 million in its fiscal third quarter.
On a per-share basis, the Wilmington, Delaware-based company said it had a loss of 78 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 43 cents per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The chipmaker posted revenue of $1.52 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $1.45 billion.
For the current quarter ending in January, Marvell expects its per-share earnings to range from 54 cents to 64 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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