Marvell Technology (MRVL) Tops Q3 EPS by 1c, Revenues Beat; Offers 4Q Revenue Outlook Below Consensus
Marvell Technology (NASDAQ: MRVL) reported Q3 EPS of $0.33, $0.01 better than the analyst estimate of $0.32. Revenue for the quarter came in at $851.05 million versus the consensus estimate of $844.02 million.
"In the first full quarter operating as a combined Marvell and Cavium team, we completed key integration milestones ahead of schedule, delivered revenue above the midpoint of our guidance, and generated strong free cash flow at 30 percent of revenue. We also expect renewed revenue growth from the Cavium business in the fourth quarter," said Matt Murphy, Marvell\'s President and Chief Executive Officer. "Looking ahead, we expect the deployment of 5G will accelerate our growth over the next several years as engagements with a growing list of Tier 1 customers continue to build momentum in this major infrastructure transition."
Marvell Technology sees Q4 2019 EPS of $0.30-$0.34, versus the consensus of $0.33. Marvell Technology sees Q4 2019 revenue of $790-830 million, versus the consensus of $848.85 million.
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