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Marvell Stock Faces Pressure Despite Meeting Earnings Expectations
Marvell Stock Faces Pressure Despite Meeting Earnings Expectations
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BTCCSquare news:
Marvell Technology's shares tumbled following mixed fiscal Q2 results, with revenue narrowly missing estimates despite a 57.5% year-over-year surge to $2 billion. Data center growth—up 69% annually—was driven by custom XPU solutions and optical interconnects, though management warned of sequential stagnation in this segment.
The semiconductor firm's guidance disappointed, projecting $2.06 billion (±5%) in revenue versus $2.1 billion consensus. Adjusted EPS outlook of $0.74 (±$0.05) surpassed expectations, while networking/carrier revenues are forecast to rise 30% quarter-over-quarter. Market reaction underscores investor sensitivity to semiconductor guidance amid macroeconomic uncertainty.
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