Marvell Technology Group (NAS: MRVL) reported earnings on Aug. 16. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended July 28 (Q2), Marvell Technology Group missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share contracted significantly.
Margins dropped across the board.
Marvell Technology Group recorded revenue of $816.1 million. The 28 analysts polled by S&P Capital IQ predicted revenue of $852.8 million on the same basis. GAAP reported sales were 9.1% lower than the prior-year quarter's $897.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.24. The 29 earnings estimates compiled by S&P Capital IQ averaged $0.26 per share. GAAP EPS of $0.16 for Q2 were 48% lower than the prior-year quarter's $0.31 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 53.2%, 470 basis points worse than the prior-year quarter. Operating margin was 11.1%, 1,060 basis points worse than the prior-year quarter. Net margin was 11.4%, 1,000 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $903.4 million. On the bottom line, the average EPS estimate is $0.30.
Next year's average estimate for revenue is $3.46 billion. The average EPS estimate is $1.09.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,381 members out of 1,454 rating the stock outperform, and 73 members rating it underperform. Among 292 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 279 give Marvell Technology Group a green thumbs-up, and 13 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Marvell Technology Group is outperform, with an average price target of $16.69.
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The article Marvell Technology Group Misses on the Top and Bottom Lines originally appeared on Fool.com.
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