(RTTNews) - Marvell Technology (MRVL) rose in pre-market trading, after reporting a third quarter profit.
The stock was up 51 cents just before 8:15 am ET, climbing to $5.60. If pre-market gains hold, the stock will open at its highest level since Monday.
After the closing bell on Tuesday, Marvell Technology reported third quarter GAAP EPS of $0.11 compared to a loss of $0.01 in the prior year quarter.
On a non-GAAP basis, EPS was $0.23 compared to $0.14 in the year-ago quarter. Analysts expected the company to earn $0.21 per share for the third quarter.
Net revenue for the third quarter increased 4% to $791.0 million from $758.2 million in the same quarter of last year. Analysts expected revenue of $793.08 million for the third quarter.
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