Marvell Technology Group Ltd. (NASDAQ:MRVL) has posted earnings with non-GAAP EPS at $0.14 on $758.2 million in revenues; First Call had estimates at $0.08 EPS on $710.1 Million in Revenues. Its non-GAAP margins were 48.3%.
Marvell also announced cost cutting measures that will be a reduction in headcount of approximately 400 employees, or approximately 7% of its workforce.
Shares closed up over 4% today, on hopes of stronger earnings, at $16.65; its 52-week trading range is $15.25 to $21.85 and this one was up at $35.00 briefly almost two-years ago. Shares are up about 1.5% in after-hours trading at $16.90.
Unfortunately, the company did not give guidance so we won’t rule this a formal victory or loss until after the conference call data is out.
Jon C. Ogg November 27, 2008
“The Next NVIDIA” Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.