Marvell Technology Group Ltd. Earnings Rise 54% In Q3

(RTTNews) - Marvell Technology Group Ltd. (MRVL) announced a profit for its third quarter that climbed from last year.

The company said its bottom line rose to $171.77 million, or $0.34 per share. This was higher than $111.87 million, or $0.21 per share, in last year's third quarter.

Analysts had expected the company to earn $0.33 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.2% to $616.30 million. This was down from $623.65 million last year.

Marvell Technology Group Ltd. earnings at a glance:

-Earnings (Q3): $171.77 Mln. vs. $111.87 Mln. last year. -Earnings Growth (Y-o-Y): 53.5% -EPS (Q3): $0.34 vs. $0.21 last year. -EPS Growth (Y-o-Y): 61.9% -Analysts Estimate: $0.33 -Revenue (Q3): $616.30 Mln vs. $623.65 Mln last year. -Revenue Change (Y-o-Y): -1.2%

-Guidance: Next quarter EPS guidance: $0.29 - $0.33 Next quarter revenue guidance: $595 - $625 Mln