Top Earnings| Semiconductor Company MRVL +16% on Estimate Beat; GPS & RL Improved Results
Let’s check the small-cap stock movers yesterday. $Marvell Technology(MRVL)$, $Gap(GPS)$ and $Ralph Lauren(RL)$ rose around 10% after they posted stellar earnings.
1. $Marvell Technology(MRVL)$ jumped 16.74% as it topped estimates for EPS and revenue
Marvell Technology jumped 16.74% after the semiconductor producer beat analysts’ expectations for its first quarter.
Marvell notched 31 cents in adjusted earnings per share on $1.32 billion in revenue, while analysts polled by Refinitiv estimated 29 cents per share and $1.3 billion in revenue.
The company also said revenue growth should accelerate in the second half of the fiscal year.
EPS: 31 cents vs. 29 cents
Revenue: $1.32 bln vs. $1.3 bln
2. $Gap(GPS)$ surged 15% as margins improved
Gap surged 15% in the postmarket following the retailer’s earnings report, which showed a major improvement in margins.
Revenue was largely in line with expectations, coming in at $3.28 billion, while analysts polled by Refinitiv anticipated $3.29 billion.
Adjusted EPS: 1 cent vs. -16 cents expected
Revenue: $3.28 bln vs. $3.29 bln expected
The company attributed the bump in margins to lower air freight expenses and a slowdown in discounting, which was partially offset by ongoing inflationary costs.
3. $Ralph Lauren(RL)$ +5.34% as it beat earnings estimates
Ralph Lauren, the luxury apparel retailer saw its shares jump 6% after the company beat earnings estimates and reported a surprise rise in revenue for its fiscal fourth quarter, according to Refinitiv.
Ralph Lauren came out with quarterly earnings of $0.90 per share, beating the consensus of $0.65 per share.
Rvenues are $1.54 billion for the quarter ended March 2023, surpassing the consensus by 4.85%
EPS: $0.90 vs. $0.65 expected
Revenue: $1.54 bln, surpassing the consensus by 4.85%
Ralph Lauren also said its sales in China jumped 30% as demand for luxury items rebounded amid the reopening.
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$Marvell Technology(MRVL)$ 🚀
$Marvell Technology(MRVL)$
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