=Marvell (MRVL) reported earnings on Thur 24 August 2017 (a/h)

Marvell beats by $0.04, beats on revs; guides Q3 EPS, revs in-line

• Reports Q2 (Jul) earnings of $0.30 per share, excluding non-recurring items, $0.02 better thanthe Capital IQ Consensus of $0.28; revenues rose 11.5% year/year to $604.75 mln vs the $600.76 mln Capital IQ Consensus.
  • Q2 Gross Margin: 60.4% GAAP gross margin; 61.2% non-GAAP gross margin
• Co issues guidancefor Q3, sees EPS of $0.30-0.34, excluding non-recurring items, vs. $0.31 Capital IQ Consensus Estimate; sees Q3 revs of $595-625 mln vs. $615.98 mln Capital IQ Consensus Estimate.
  • GAAP and non-GAAP gross margins are expected to be approximately 61% to 62%.
  • Non-GAAP operating expenses are expected to be $205 million to $210 million.