US Stock Movement | Marvell Technology surges 14.7% in after-hours trading, Q4 revenue hits record high and Q1 guidance beats expectations

Gelonghui March 6th｜Chip manufacturer Marvell Technology (MRVL.US) surged 14.7% in after-hours trading to $86.8. According to reports, Marvell Technology announced its fourth-quarter results, with revenue increasing by more than 20% year-on-year to a record $2.22 billion, and adjusted earnings per share at $0.8, both slightly above analysts’ expectations of $2.21 billion and $0.79, respectively. Net profit reached $396 million, a significant year-on-year increase of 97.9%. During the period, data center revenue grew 21% year-on-year to $1.65 billion, surpassing analysts’ expectations of $1.63 billion. Looking ahead to the first quarter, the company expects revenue to reach $2.4 billion (with a fluctuation of 5%), and earnings per share at $0.79 (with a fluctuation of 5%), both exceeding analysts’ expectations of $2.28 billion and $0.74, respectively.