Marvell Technology (NASDAQ:MRVL) reported its Q3 earnings results on Thursday, December 2, 2021 at 04:00 PM.

Here's what investors need to know about the announcement.

Earnings

Marvell Technology beat estimated earnings by 13.16%, reporting an EPS of $0.43 versus an estimate of $0.38, which surprised analysts.

Revenue was up $460,857,000.00 from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.03, which was followed by a 3.0% drop in the share price the next day.

Here's a look at Marvell Technology's past performance:

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Marvell Technology management provided guidance for their next quarter, expecting earnings between $0.35 and $0.41 per share for the nextquarter.

This represents a -11.63% in quarter-over-quarter growth for Marvell Technology, a bearish signal to many investors.

To track all upcoming earnings announcements, click to use Benzinga Earnings Calendar.

This article was generated by Benzinga's automated content engine and reviewed by an editor.