Shares of Marvell Technology, Inc. (NASDAQ:MRVL) rose sharply in today's pre-market trading after the company reported better-than-expected third-quarter financial results and issued fourth-quarter guidance above estimates.
Marvell Technology reported quarterly earnings of 43 cents per share, which beat the analyst consensus estimate of 41 cents. Quarterly revenue came in at $1.52 billion, which beat the consensus estimate of $1.46 billion and is an increase over sales of $1.42 billion from the same period last year.
