Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Marvell (Nasdaq: MRVL ) popped 13% in intraday trading today after issuing better-than-expected earnings.
So what: Non-GAAP EPS of $0.38 fell 5% year over year but beat the $0.37 consensus estimate. GAAP EPS of $0.31 fell from $0.33 in the year-earlier quarter. Revenue of $898 million was essentially flat year over year but ahead of the $889 million consensus forecast.
Now what: Troubled Research In Motion (Nasdaq: RIMM ) is an important Marvell customer. The company has also been under pressure because of weak PC demand. The better-than-expected earnings and revenue suggest Marvell may be less exposed to RIM and PC market challenges than investors had feared. Management didn't offer guidance, but made generally positive comments, including:
We continue to execute well on all of our new product initiatives including in our Mobile and Wireless end market ... we experienced solid revenue growth in all our served end markets.... Looking forward, we continue to focus our investments on initiatives designed to increase revenue and profit through both new products and share gains.
Interested in more info on Marvell? Add it to your watchlist by clicking here.
RSS Headlines
Fool UK
Comments from our Foolish Readers
Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the
Report this Comment icon found on every comment.
Be the first one to comment on this article.