(Tiper Stock Exchange) – Marvell Technologya US company that sells a variety of chips and hardware products, has filed Net revenues equal to 1.537 billion dollars in third quarter fiscal year 2023 (ended Oct. 29, 2022), at the lower end of the company’s Aug. 25 guidance. L’Net income it was $13 million, or $0.02 per share. On an adjusted basis, net income was $492 million, or $0.57 for action.
“We had $1.54 billion in revenue in the third quarter, a record for Marvell, with 27% year-over-year growth led by ours main growth drivers of cloud, 5G and automotive“said Matt Murphy, President and CEO of Marvell.
“The stock reductionsparticularly with our storage customers, are influencing our results and near-term guidance, and we are working closely with them to manage their change in demand in an orderly manner to pave the way for a growth recovery.” , he added.
The society expectfor the fourth quarter for the fiscal year, earnings per share of $0.46 on revenues of $1.4 billion. Forecasts are well below market expectations, for earnings per share of $0.62 on revenues of $1.6 billion.