WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Marvell Technology, Inc. (MRVL) on Thursday reported fiscal fourth-quarter net income of $396.1 million.
The Wilmington, Delaware-based company said it had net income of 46 cents per share. Earnings, adjusted for one-time gains and costs, were 80 cents per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The chipmaker posted revenue of $2.22 billion in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $2.2 billion.
For the year, the company reported profit of $2.67 billion, or $3.07 per share. Revenue was reported as $8.19 billion.
For the current quarter ending in April, 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
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