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Marvell
shares popped 18% on Friday as the company posted an earnings beat and issued strong guidance, expecting strong artificial intelligence demand to continue.
The semiconductor company reported adjusted earnings of 80 cents per share for the quarter, exceeding the 79 cents per share expected by analysts polled by LSEG. The company reported $2.2 billion in fourth-quarter revenue, topping a forecast of $2.1 billion.
“Look at our results that we’re guiding. Look at our outlook for this year. Look at our outlook for next year. Do you see me blinking? You don’t,” CEO Matt Murphy told analysts on the earnings call.
