Marvell Technology Group Ltd. Reports 686% Increase In Q1 Earnings

(RTTNews) - Marvell Technology Group Ltd. (MRVL) reported earnings for its first quarter that climbed from last year.

The company said its bottom line came in at $124.29 million, or $0.24 per share. This was higher than $15.82 million, or $0.03 per share, in last year's first quarter.

The company said revenue for the quarter rose 11.5% to $579.18 million. This was up from $519.38 million last year.

Marvell Technology Group Ltd. earnings at a glance:

-Earnings (Q1): $124.29 Mln. vs. $15.82 Mln. last year. -Earnings Growth (Y-o-Y): 685.7% -EPS (Q1): $0.24 vs. $0.03 last year. -EPS Growth (Y-o-Y): 700% -Revenue (Q1): $579.18 Mln vs. $519.38 Mln last year. -Revenue Change (Y-o-Y): 11.5%

-Guidance: Next quarter EPS guidance: $0.26 to $0.30 Next quarter revenue guidance: $585 to $615 million