Marvell Technology (NASDAQ:MRVL) stock has rebounded over the past three weeks, climbing from a July low of $162.90 to a high of $252. The rally continued this week after the company struck a $12 billion deal with Alphabet (NASDAQ:GOOG). Attention now turns to Marvell’s upcoming earnings report, which will be key to justifying its elevated valuation.
Marvell Technology to Publish Strong Earnings Report
MRVL stock will be in the spotlight as it releases its earnings report on Thursday, which will provide more information about its revenue and profitability growth.
Benzinga data shows that the average estimate is that its revenue will come in at $2.71 billion, up by 35% YoY. This growth is expected to accelerate after its Celestial AI acquisition that closed in February. Celestial gave it access to the popular Photonic Fabric optical interconnect technology that is being used in data centers globally.
The earnings-per-share is expected to come in at 93 cents, up sharply from the 67 cents it made last year. Most traders on Polymarket predict that the company’s earnings will be better than what analysts expect.
