Marvell Technology (MRVL) Stock Gains 14% on Better Than Expected Q3 Results
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Marvell Technology, Inc. Reports Third Quarter of Fiscal Year 2022 Financial Results
December 2, 2021 4:05 PM ESTSANTA CLARA, Calif., Dec. 2, 2021 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in infrastructure semiconductor solutions, today reported financial results for the third quarter of fiscal year 2022.
Marvell completed the acquisition of Innovium, Inc. ("Innovium") on October 5, 2021 (the "acquisition date"), approximately 25 days before the end of the third quarter of fiscal year 2022. Marvell's results for the third quarter of fiscal 2022 include the results of Innovium from the acquisition date, while prior periods presented do not.
Net revenue for the third quarter of fiscal 2022 was $1.211 billion, which exceeded... More
