Marvell Technology Falls 10%+ After-Hours on Poorly Received Guidance
$Marvell Technology (MRVL.US)$ sank more than 10% after-hours Thursday after the company tied analyst estimates for Q4 earnings and beat on revenues, but issued weak forward guidance.
MRVL fell 11.7% to $75.11 shortly before 4:30 p.m. ET after the firm said it expects Q1 2025 adjusted earnings per share to come in at between $0.18 and $0.28 compared to the $0.40 analysts were expecting, according to published reports.
The company guided Q1 2025 revenues to $1.15 billion plus or minus 5% vs. the $1.371 billion analysts had been projecting.
Shares fell even after Marvell reported earning $0.46 per share in the latest quarter, tying analysts’ consensus estimates. Q4 revenues came in at $1.43 billion, beating the $1.1423 billion analysts had forecast.
MRVL also announced a $3 billion share buyback.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
416Followers
417Following
2083Visitors
Follow