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Marvell Technology (MRVL) stock is under pressure after the company's first quarter results came in just above expectations.
First quarter net revenue was $1.9 billion in the first quarter, beating estimates of $1.88 billion, while adjusted earnings per share (EPS) were $0.62, above the expected $0.61.
The company's sales and earnings outlook for the upcoming quarter were roughly in line with analyst estimates.
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Marvell uh Technologies first quarter numbers. Those shares little changed in after hours. Uh, first quarter earnings per share coming in at 62 cents. That's just a penny above what analysts had been anticipated. Revenue also largely in line at $1.9 billion, $1.88 billion was the average analyst estimate. And looking here at what the company is looking for for the second quarter, um, it sees adjusted earnings per share of 62 to 72 cents. Analysts had been anticipating 67 cents. Um, and it looks like its revenue forecast also basically the midpoint of it is in line with what analysts had been anticipating. So again, the shares not doing a heck of a lot in response.
Yeah, and the stock was already down plenty hard in 2025 heading into this print. I do see statement from CEO Matt Murphy sounding a confident tone here, talking about record revenue, talking about momentum being fueled by strong AI demand in the data center and market. Uh revenue has benefiting from the rapid scaling of our custom silicon programs. Of course, that's what Marvell does, right? Making chips for data centers, networking, other equipment. Um, also talking about a a AI investor event coming up on June 17th. So if you're in this name, you're circling the calendar on there, but you could see the stock down about 2.5.
Yeah, now it's extending some of those declines, indeed.
