Marvell Technology Group Ltd. Q1 adjusted earnings Beat Estimates

(RTTNews) - Marvell Technology Group Ltd. (MRVL) announced a profit for its first quarter that climbed from the same period last year.

The company's earnings came in at $128.61 million, or $0.25 per share. This compares with $106.62 million, or $0.21 per share, in last year's first quarter.

Excluding items, Marvell Technology Group Ltd. reported adjusted earnings of $164.67 million or $0.32 per share for the period.

Analysts had expected the company to earn $0.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.6% to $604.63 million from $572.71 million last year.

Marvell Technology Group Ltd. earnings at a glance:

-Earnings (Q1): $164.67 Mln. vs. $125.543 Mln. last year. -EPS (Q1): $0.32 vs. $0.24 last year. -Analysts Estimate: $0.31 -Revenue (Q1): $604.63 Mln vs. $572.71 Mln last year.

-Guidance: Next quarter EPS guidance: $0.32 - $0.36 Next quarter revenue guidance: $600 - $630 Mln