Marvell Technology (NASDAQ: MRVL) reported Q1 EPS of $0.18, $0.04 better than the analyst estimate of $0.14. Revenue for the quarter came in at $694 million versus the consensus estimate of $678.7 million.

GUIDANCE:

Marvell Technology sees Q2 2021 EPS of $0.17-$0.23, versus the consensus of $0.16. Marvell Technology sees Q2 2021 revenue of $720 million, versus the consensus of $688.7 million.

• Revenue is expected to be $720 million +/- 5%.
• GAAP gross margin is expected to be approximately 50.6%.
• Non-GAAP gross margin is expected to be approximately 63%.
• GAAP operating expenses are expected to be approximately $393 million.
• Non-GAAP operating expenses are expected to be approximately $300 million.
• GAAP diluted loss per share is expected to be $(0.10) to $(0.02) per share.
• Non-GAAP diluted income per share is expected to be $0.17 to $0.23 per share.

For earnings history and earnings-related data on Marvell Technology (MRVL) click here.