By Yasin Ebrahim
Investing.com – Marvell (NASDAQ:) reported Monday first quarter that that topped expectations, and rolled out better guidance than expected for the current quarter amid a boost data center growth from the acquisition of Inphi (NASDAQ:).
Marvell shares gained 2.48% in after-hours trade following the report.
Marvell announced earnings per share of 29 cents on revenue of $832.3 million. Analysts polled by Investing.com anticipated EPS of 27 cents on revenue of $805.8 million.
The company completed the acquisition of Inphi about 10 days before the end of the quarter, and the Q1 results included the adjusted Inphi financials for the period.
Stand-alone Marvell revenue grew 17% year-over-year to $810.5 million for the first quarter, while combined revenue including the contribution from Inphi was $832.3 million.
Looking ahead to Q2, the company guided EPS in the range of 28 cents to 34 cents on revenue of $1.065 billion, compared with Wall Street expectations for EPS of 30 cents on revenue of $840.2 million.
“Marvell’s outlook for strong revenue growth in the second quarter highlights robust demand across all our key end markets. I have never felt stronger about our prospects and believe that we are at the beginning of a multi-year growth cycle,” the company said.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.