Marvell Technology Q3 results beat despite data center weakness

Investing.com - Marvell Technology reported Thursday better-than-expected third-quarter results despite weakness in its datacenter business.

Marvell (NASDAQ: MRVL) was up 1.3% in afterhours trading following the report.

The chipmaker reported Q3 adjusted EPS of $0.41 on revenue of $1.42 billion, compared with Wall Street estimates for $0.40 on revenue of $1.4B.

The company's data center unit, which makes up the 39% growth, saw revenue fall 11% to $555.8M in Q3 from a year earlier.

Looking ahead, the company forecast Q4 adjusted EPS of $0.41 to $0.51, in-line with Wall Street estimates of $0.49, while revenue is expected to come in at $1.42B, give or take 5%, was also in-line estimates of $1.46B.

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