Marvell Follows Nvidia in Surging Higher on Expectations AI Sales Will Double
Moreover, the company’s first-quarter results showed that non-AI areas are finally seeing some improvements, although elevated inventory levels are still bothering the chipmaker. How Did Marvell Perform in Q1?For the first quarter, Marvell posted an adjusted profit of $0.31 per share, slightly ahead of the Street at $0.29. Revenue fell 9% to $1.32 billion, however, still better than the analyst expectations for a 10% decline to $1.3 billion. For this quarter, Marvell’s revenue outlook implies sales of $1.33 billion at the midpoint, beating the consensus of $1.31 billion. The adjusted earnings ...