Corrects third para to show first quarter revenue fell 8% from last year, and not increased as was previously mentioned:
Marvell Technology Group Ltd. (MRVL) reported net income for the first quarter of $53.2 million or $0.11 per share, compared to $94.5 million or $0.16 per share for the year-ago quarter.
Excluding items, adjusted net income for the first quarter was $98.1 million or $0.19 per share, compared to $138.7 million or $0.23 per share in the prior year quarter.
Revenue for the first quarter fell 8% to $734.37 million from $796.35 million in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to earn $0.14 per share on revenue of $721.55 million for the first quarter. Analysts' estimates typically exclude special items.
Looking forward to the second quarter, the company forecast revenue of of $770 million to $810 million, earnings of $0.09 per share, +/- $0.02 per share, and adjusted earnings of $0.19 per share, +/- $0.02 per share. Analysts currently expect the company to earn $0.18 per share on revenue of $763.48 million for the second quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.