Matt Murphy, CEO, Marvell Technology
Scott Mlyn | CNBC
Marvell Technology (MRVL) reported better-than-expected quarterly earnings Thursday after the closing bell. The semiconductor company posted a record revenue of $1.45 billion for the first quarter of its fiscal 2023, up 74% from a year earlier and exceeding Street expectations of $1.43 billion.
Adjusted earnings per share of 52 cents edged out the consensus estimate of 52 cents. Additionally, the company reported adjusted gross margin of 65.5% that was in line with expectations.