Marvell Technology, the semiconductor producer based in Santa Clara, California, is predicting that its revenue will remain relatively stable compared to the same period last year during the fiscal fourth quarter. This comes after a decline in sales for the company.
For the fiscal fourth quarter, Marvell anticipates revenue of approximately $1.42 billion, with a margin of error of 5%. In the same quarter the previous year, the company's revenue amounted to $1.419 billion. However, analysts surveyed by FactSet have higher expectations, forecasting revenue of $1.46 billion.
Marvell has provided guidance for its fourth quarter results, indicating that they are expected to fall between a loss of 8 cents per share and a profit of 2 cents per share. In contrast, analysts polled by FactSet have predicted a profit of 1 cent per share.
During the fiscal third quarter, Marvell experienced its fourth consecutive loss as sales declined compared to the previous year.
Adjusting for certain one-time items, the company is projecting earnings of 41 cents to 51 cents per share for the fourth quarter. This differs from the analysts' forecast of 49 cents per share.
Our Latest News
Bitcoin and other cryptocurrencies rally as expectations of a Federal Reserve rate cut grow, driving the price of Bitcoin to its highest levels in months. Analy...
Get the latest updates on FTSE 100 Index movements, top stock changes, currency rates, and commodity prices.
Advanced Micro Devices (AMD) exceeds expectations in Q4 with a profit of $667 million, driven by AI demand. Revenue reaches $6.17 billion. AMD predicts Q1 reven...