By Yasin Ebrahim
Investing.com - Marvell (NASDAQ:MRVL) reported Thursday fourth quarter results that beat analysts' forecasts and chipmaker's better-than-expected guidance as strong cloud, 5G, automotive boosted chip demand.
Marvell was down 1.5% in afterhours trading.
Marvell announced earnings per share of 50 cents on revenue of $1.34 billion. Analysts polled by Investing.com anticipated EPS of 48 cents on revenue of $1.32 billion.
"Revenue grew in all five of our end markets in the fourth quarter, with strong contributions from cloud, 5G and auto, which together represented 40% of total revenue," the company said.
Looking ahead to the first quarter, adjusted EPS was guided in a range of 48 cents to 54 cents on revenue of $1.43 billion, give or take 3%. That compared with estimates for EPS of 49 cents on revenue of $1.38 billion.
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