(AOF) – Marvell Technology is expected to be in the red due to a weaker than expected outlook. In the first quarter, ended in early February, of fiscal 2024, the chipmaker posted a net loss of $392.7 million, or 45 cents per share, compared with a loss of $15.4 million, or 2 cents per share. action a year earlier. Excluding exceptional items, earnings per share came to 46 cents, in line with expectations. Revenue rose 1% to $1.427 billion, above market expectations of $1.42 billion.
For the current quarter, the group expects earnings per share, excluding exceptional items, of between 18 and 28 cents, and on an average turnover of 1.15 billion. Analysts are targeting earnings per share of 41 cents and sales of 1.38 billion.
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