Marvell Technology (MRVL): Q1 EPS of $0.23 beats by $0.03. Revenue of $796M (-0.7% Y/Y) beats by $29M.
Marvell's FQ1: The chipmaker is initiating a $0.06/share dividend (good for a yield of 1.8%), and expanding its stock buyback authorization by $500M to $848M. Marvell attributes its strong FQ1 performance to a 25% Q/Q increase in TD-SCDMA baseband chip sales for phones on China Mobile's network, and rising sales of notebook hard drive controller chips. $223M worth of shares were repurchased during the quarter. MRVL +3.7% AH
Marvell's FQ1: The chipmaker is initiating a $0.06/share dividend (good for a yield of 1.8%), and expanding its stock buyback authorization by $500M to $848M. Marvell attributes its strong FQ1 performance to a 25% Q/Q increase in TD-SCDMA baseband chip sales for phones on China Mobile's network, and rising sales of notebook hard drive controller chips. $223M worth of shares were repurchased during the quarter. MRVL +3.7% AH
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