Tech earnings roundup: Aruba Networks strong; Autodesk, Marvell struggle

Tech earnings roundup: Aruba Networks strong; Autodesk, Marvell struggle

Summary: Aruba Networks delivers a solid quarter, but Autodesk and Marvell report weak results due to flagging demand.

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Aruba Networks shined amid a batch of technology earnings reports, but Autodesk and Marvell struggled amid weak demand.

Networking player Aruba Networks reported a first quarter net loss of $800,000, or a penny a share, on revenue of $144.5 million, up 21 percent from a year ago. Non-GAAP earnings for the first quarter were 18 cents a share.

Wall Street was expecting first quarter earnings of 17 cents a share on revenue of $142.5 million.

In a statement, Aruba CEO Dominic Orr said the company saw healthy growth across its major products. Aruba provides networking gear and software that caters to mobility and enterprises trying to manage the bring your own device trend.

Autodesk reported fiscal third quarter earnings of $29.3 percent, or 13 cents a share, on revenue of $548 million. Non-GAAP earnings in the quarter were 47 cents a share. Operating margins fell to 6 percent, down from 16 percent a year ago.

Wall Street was expecting earnings of 43 cents a share in the third quarter on revenue of $559.9 million. In a statement, Autodesk CEO Carl Bass said the company was hit by a "weakening demand environment." Autodesk also said that it saw emerging market demand slump.

For the fourth quarter, Autodesk said it would report revenue between $570 million to $600 million with non-GAAP earnings between 43 cents a share and 51 cents a share.

Wall Street was expecting earnings of 54 cents a share on revenue of $604 million.

Marvell reported a disappointing third quarter due to a slowdown in PC demand. The company, which already issued a profit warning, reported third quarter earnings of $69 million, or 12 cents a share, on revenue of $781 million, down 18 percent from a year ago. Non-GAAP earnings were 20 cents a share.

The company said its plan is to grow its storage business, notably its solid state drive unit.

Topics: Networking, Enterprise Software, Processors, Storage, Tech Industry

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  • So, The Bottom Is Falling Out Of The Proprietary CAD And 3D Markets

    Looks like Autodesk is yet another company having its lunch eaten by Free Software alternatives.
    ldo17