Why Marvell Technology Stock Surged Today

·2-min read
Why Marvell Technology Stock Surged Today

Shares of Marvell Technology (NASDAQ: MRVL) jumped on Friday after the chipmaker delivered better than expected fiscal 2022 third-quarter results. As of 3:20 p.m. ET, Marvell's stock price was up more than 17%. Revenue in Marvell's data center and automotive/industrial divisions more than doubled, while sales in its enterprise networking, carrier infrastructure, and consumer segments increased 56%, 28%, and 20%, respectively.

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