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Marvell stock jumps after new details on Cavium merger shared
"I'm very confident that our combined team will drive us towards our long term 6% to 8% annual revenue growth target," Marvell Chief Executive Matt Murphy said in a conference call Thursday afternoon, adding that cost synergies previously forecast at $150 million to $175 million per year would actually hit $200 million a year by the end of fiscal 2020. Marvell reported combined second-quarter earnings -- which included about a month of Cavium results, as the deal closed during the quarter -- of a penny a share on revenue of $665.3 million, up from $604.8 million a year ago. After adjustments, the company claimed earnings of 28 cents a share, though it said the total would have been 35 cents a share without Cavium.
https://finance.yahoo.com/m/b69319a.../marvell-stock-jumps-after-new.html?.tsrc=rss
"I'm very confident that our combined team will drive us towards our long term 6% to 8% annual revenue growth target," Marvell Chief Executive Matt Murphy said in a conference call Thursday afternoon, adding that cost synergies previously forecast at $150 million to $175 million per year would actually hit $200 million a year by the end of fiscal 2020. Marvell reported combined second-quarter earnings -- which included about a month of Cavium results, as the deal closed during the quarter -- of a penny a share on revenue of $665.3 million, up from $604.8 million a year ago. After adjustments, the company claimed earnings of 28 cents a share, though it said the total would have been 35 cents a share without Cavium.
https://finance.yahoo.com/m/b69319a.../marvell-stock-jumps-after-new.html?.tsrc=rss
