What to expect from Marvell Technology's Q3 earnings?
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Marvell Technology (NASDAQ:MRVL) is scheduled to announce Q3 earnings results on Thursday, December 1st, before market open.
The consensus EPS Estimate is $0.59 (+37.2% Y/Y) and the consensus Revenue Estimate is $1.56B (+28.9% Y/Y).
Over the last 3 months, EPS estimates have seen 1 upward revision and 22 downward. Revenue estimates have seen 2 upward revisions and 21 downward.
While the stock has been halved in 2022, falling alongside much of the semiconductor sector, Marvell has marked a double-digit gain in the month ahead of the Q3 report, spurred on by Warren Buffettâs bet on Taiwan Semiconductor (TSM) and bullish calls on the Street.

"We believe semiconductors are in a period of sustained long-term growth, with factors such as AI, cloud computing and automotive all driving growth thatâs more diversified vs. the past," Credit Suisse analyst Chris Caso wrote in a recent note to clients. Caso selected Marvell (MRVL) as a top pick.
Elsewhere, the company is working to wind down some R&D operations in China amid trade tensions.
Marvell posted lower-than-expected guidance figures for Q3 at the end of its last quarter, despite nine straight quarters of sequential revenue growth.
Still, Credit Suisse believes Marvell (MRVL) could generate an additional $1.175B in revenue for fiscal 2024 as the company is driven by content and new opportunities and less dependent on market growth than others.
While Marvell may fare better than most, SA contributor Stephen Simpson believes estimates for 2023-2024 are too high and "there could be downside risk to sell-side estimates and sentiment over the next two quarters" if/when management guides to a slowdown in growth outlook.
Over the last 2 years, MRVL has beaten EPS estimates 88% of the time and has beaten revenue estimates 88% of the time.