Stock Market Earnings Report MRVL Marvell reports EPS in-line

http://www.StockMarketFunding.com Stock Market Earnings Report Stock Market Earnings Report MRVL Marvell reports EPS in-line, misses on revs; announces $500 mln buyback

Reports Q2 (Jul) earnings of $0.40 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.40; revenues rose 4.8% year/year to $896.5 mln vs the $911.6 mln consensus. MRVL reports Q2 gross margin 59.3% vs 59.2% Thomson Reuters consensus, Q1 60.6%, prior year 52.2%. Non-GAAP gross margin for Q2 was 59.3 percent vs the 59.3% consensus, compared to 55.3 percent for the second quarter of fiscal 2010 and 60.6 percent for the first quarter of fiscal 2011. Marvell also announces that its Board of Directors has authorized a program to repurchase up to $500 mln of its outstanding common shares.

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