technology
Marvell Technology Reports Revenue Growth Ahead of Earnings Release
Marvell Technology shares rose this year after a $2 billion investment from NVIDIA and partnerships with major cloud providers. The company is scheduled to release first-quarter results this week.
May 24, 12:21 PM·1m read1 source
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Marvell Technology stock rose this year after a $2 billion investment from NVIDIA and continued demand for artificial intelligence components. The company operates in the semiconductor industry. Its most recent quarterly results showed revenue growth of 22 percent in the fourth quarter.
Revenue growth was supported by business with Amazon, Microsoft, and Alphabet. Analysts tracking the company project a 26 percent revenue increase for the first quarter. The company completed acquisitions of Celestial AI and XConn. Those deals are expected to begin contributing to results in later years.
Technology is scheduled to publish its first-quarter earnings this week. The report will provide updated figures on revenue and growth trends.
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