By Connor Hart
Marvell Technology reported a jump in fourth-quarter revenue, though its first-quarter revenue outlook disappointed investors. The chipmaker swung to a profit in the recent quarter and revenue rose 20%, to $1.82 billion. For the current quarter, Marvell forecast adjusted earnings of 61 cents a share on sales of $1.88 billion, compared with analyst views for adjusted earnings of 60 cents a share on sales of $1.87 billion. Shares tumble 14%, to $77.80, in after-hours trading.
Sleep Number logged lower fourth-quarter revenue, as mattress-sales volumes fell to their lowest level in nearly a decade in 2024. The company narrowed its loss to $4.7 million from $25.2 million a year earlier, while revenue fell to $376.8 million, and missed estimates. Sleep Number said it would issue its 2025 outlook at a later date as it tapped former Blue Apron CEO Linda Findley as its next president and chief executive, effective April 7. Shares fall 7.7%, to $11.70, in post-market trading.
Miller Industries posted lower profit and revenue in the fourth quarter. The company, which manufactures towing and recovery equipment, posted a profit of $10.5 million, down from $16.7 million. Revenue fell to $221.9 million. Chief Executive William Miller II said that significant macroeconomic uncertainties would weigh on the company's results in 2025. Shares tumble 13%, to $48, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 05, 2025 18:49 ET (23:49 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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