BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Marvell Technology Stock Plummets Despite In-Line Earnings
Marvell Technology Stock Plummets Despite In-Line Earnings
24
1
BTCCSquare news:
Marvell Technology (MRVL) shares tumbled 16.1% by midday Friday after posting second-quarter results that matched analyst expectations but failed to excite investors. The chip designer reported $2.01 billion in revenue, a 58% year-over-year jump, with adjusted earnings doubling to $0.67 per share. Yet the market reaction was decisively bearish.
The downturn appears driven by underwhelming forward guidance. Third-quarter revenue projections of roughly $2.01 billion represent just 36% annual growth—a notable deceleration. CEO Matt Murphy acknowledged the "lumpy" nature of hyperscale customer orders during the earnings call, as data center revenues now dominate 74% of total sales.
By:
