Marvell Technology Group Ltd. Q3 Loss Decreases, beats estimates

Marvell Technology Group Ltd. (MRVL) reported Loss for its third quarter that increased from last year and missed the Street estimates.

The company's earnings came in at -$62.53 million, or -$0.08 per share. This compares with -$22.91 million, or -$0.03 per share, in last year's third quarter.

Excluding items, Marvell Technology Group Ltd. reported adjusted earnings of $364.32 million or $0.43 per share for the period.

Analysts on average had expected the company to earn $0.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 61.3% to $1.21 billion from $0.75 billion last year.

Marvell Technology Group Ltd. earnings at a glance:

-Earnings (Q3): -$62.53 Mln. vs. -$22.91 Mln. last year.
-EPS (Q3): -$0.08 vs. -$0.03 last year.
-Analyst Estimate: $0.38
-Revenue (Q3): $1.21 Bln vs. $0.75 Bln last year.

Next quarter EPS guidance: $0.45 - $0.51

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