Marvell Technology Group Ltd. Profit Advances 261% In Q3

(RTTNews) - Marvell Technology Group Ltd. (MRVL) revealed earnings for its third quarter that increased compared to the same period last year.

The company said its bottom line climbed to $104.83 million, or $0.20 per share. This was up from $29.01 million, or $0.06 per share, in last year's third quarter.

Analysts had expected the company to earn $0.12 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.0% to $654.42 million. This was down from $674.89 million last year.

Marvell Technology Group Ltd. earnings at a glance:

-Earnings (Q3): $104.83 Mln. vs. $29.01 Mln. last year. -Earnings Growth (Y-o-Y): 261.4% -EPS (Q3): $0.20 vs. $0.06 last year. -EPS Growth (Y-o-Y): 233.3% -Analysts Estimate: $0.12 -Revenue (Q3): $654.42 Mln vs. $674.89 Mln last year. -Revenue Change (Y-o-Y): -3.0%

-Guidance: Next quarter EPS guidance: $0.17 to $0.21