NEW YORK, NY / ACCESSWIRE / August 28, 2017 / Marvell and Splunk soared ahead this past Friday after announcing quarterly results that beat expectations. Both companies beat on both the top and bottom line.

RDI Initiates Coverage on:

Marvell Technology Group Ltd.
https://rdinvesting.com/news/?ticker=MRVL

Splunk Inc.
https://rdinvesting.com/news/?ticker=SPLK

Marvell Technology Group Ltd.'s shares closed up 7.50% on nearly 15 million shares traded on Friday. The company saw its shares soar after reporting second-quarter results that were at the high end of management's guidance ranges late Thursday. They also beat Wall Street's estimates. Shares gained over 10% during intra-day trading on Friday before coming down slightly. Sales for the period increased by 1% year over year at $605 million and beat the Street expectation of $601 million. Adjusted EPS of 0.30 per share was a 67% increase and also beat analyst's expectations of $0.28 per share. Looking ahead, the company has forecast earnings per share in the range of 30 cents to 34 cents for the current quarter. It expects revenue in the range of $595 million to $625 million for the fiscal third quarter. Analysts surveyed by Zacks were looking for revenue of $622.7 million.

Access RDI's Marvell Technology Group Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=MRVL

Splunk Inc.'s shares closed up 8.48% this past Friday with trading volume of nearly 8.4 million shares traded. Shares gained as much as 12% after the company reported its second quarter 2018 financial results. The operational intelligence platform specialist revealed that revenue was $280 million for the period. Not only was this 31% higher but was also above the company's own guidance of $267 to $269 million. It was also higher than the $268.80 million that analysts had been waiting for. Splunk reported EPS of 8 cents, which was 2 cents higher than the Street's expectations and 3 cents higher than the year ago quarter. CEO Dough Merritt said it was "solid sales execution" that helped the company's performance. He also said, "I am looking forward to the more than 140 customer presentations at .conf2017, our annual user's conference [...]. It is an excellent opportunity to learn the many new ways that leading organizations are using Splunk software to solve problems and gain Operational Intelligence." This was the 11th straight quarterly beat for the company.

Access RDI's Splunk Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SPLK

Our Actionable Research on Marvell Technology Group Ltd. (NASDAQ: MRVL) and Splunk Inc. (NASDAQ: SPLK) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com