Marvell Technology (MRVL) Tops Q1 EPS by 1c, Revenues Beat; Offers 2Q EPS/Revenue Mid-Point Outlooks Above Consensus

Marvell Technology (NASDAQ: MRVL) reported Q1 EPS of $0.32, $0.01 better than the analyst estimate of $0.31. Revenue for the quarter came in at $605 million versus the consensus estimate of $602.01 million.

Second Quarter of Fiscal 2019 Financial Outlook

• Revenue is expected to be $600 million to $630 million. The guidance range excludes approximately $7 million in revenue from a Chinese OEM due to the trade restrictions imposed by the U.S. government.
• GAAP and non-GAAP gross margins are expected to be approximately 63% to 64%.
• GAAP operating expenses are expected to be $260 million to $270 million.
• Non-GAAP operating expenses are expected to be approximately $210 million.
• GAAP diluted EPS from continuing operations is expected to be in the range of $0.22 to $0.26 per share.
• Non-GAAP diluted EPS from continuing operations is expected to be in the range of $0.32 to $0.36 per share.

GUIDANCE:

Marvell Technology sees Q2 2019 EPS of $0.32-$0.36, versus the consensus of $0.33. Marvell Technology sees Q2 2019 revenue of $600-690 million, versus the consensus of $621 million.

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

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