Marvell Technology continues to face challenges in its various segments.Marvell Technology (MRVL 2.05%), a leader in infrastructure semiconductor solutions, reported fiscal 2025 second-quarter earnings Thursday that were in line with internal guidance but mixed when measured against year-over-year data.Revenue of $1.27 billion was up 10% sequentially from Q1, although it marks a 5% year-over-year decline. Marvell continued to grapple with losses, posting a GAAP diluted loss per share of $0.22 and non-GAAP d ...

Financial Data and Key Metrics Changes - For Q2 2025, Marvell reported revenue of $1.27 billion, a 10% sequential growth, but a 5% decline year-over-year [5][21] - Non-GAAP earnings per share were $0.30, exceeding guidance and reflecting a 25% sequential increase [5][22] - GAAP gross margin was 46.2%, while non-GAAP gross margin was 61.9% [22] Business Line Data and Key Metrics Changes - Data center revenue reached a record $881 million, growing 92% year-over-year and 8% sequentially, driven by strong demand for electro-optics products [6][21] - Enterprise networking revenue was $151 million, and carrier revenue was $76 million, both flat sequentially [13][21] - Consumer revenue grew 112% sequentially to $89 million, recovering from prior inventory corrections [15][21] - Automotive and industrial revenue was $76 million, declining 31% year-over-year and 2% sequentially, but expected to grow in Q3 [16][21] Market Data and Key Metrics Changes - The data center market is projected to grow significantly, with a compound annual growth rate (CAGR) of 27% to $14 billion by 2028 [8] - The enterprise networking and carrier markets are expected to see mid-single-digit growth sequentially in Q3 [14][21] Company Strategy and Development Direction - Marvell is focusing on AI and accelerated infrastructure, reallocating investments towards high ROI opportunities [17] - The company aims to maintain leadership in the interconnect market, expanding its product portfolio to include new technologies [8][18] - Custom silicon is expected to be the largest revenue growth driver, with a focus on partnerships with Tier 1 cloud providers [10][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in exceeding AI revenue targets for the year, driven by strong demand in both custom and optics businesses [32][63] - The company anticipates a return to year-over-year revenue growth in Q3, with all end markets expected to grow [5][19] - Management highlighted the importance of maintaining operational discipline and leveraging operating margins as revenue grows [38][60] Other Important Information - Cash flow from operations was $306 million, with inventory reduced by nearly 20% year-over-year [23][21] - The company plans to increase stock repurchases in Q3, reflecting strong cash flow generation [23][25] Q&A Session Summary Question: Can you elaborate on operating leverage to gross margin? - Management indicated that while custom programs have lower gross margins, the recovery in core merchant products will offset this, leading to stable gross margins in the coming quarters [27][29] Question: What is the outlook for AI revenue? - Management confirmed strong demand in both custom compute and optics, with expectations to exceed the previously set targets for AI revenue [31][32] Question: Can you provide granularity on AI revenue numbers? - Management refrained from providing specific quarterly numbers but confirmed that both custom and electro-optics contributions are exceeding expectations [34][35] Question: What are the competitive dynamics in the AI business? - Management acknowledged a competitive landscape but emphasized Marvell's strong market share and comprehensive technology offerings [41][42] Question: What is the outlook for the custom compute business? - Management expressed confidence in multi-generational relationships with customers, indicating strong bookings and backlog for future programs [45][46] Question: How is the data center switching opportunity expected to ramp? - Management noted strong interest in the 51.2T silicon and believes they are well-positioned for future production [55][56] Question: What is the normalized run rate for traditional businesses? - Management indicated a target of returning both enterprise and carrier businesses to approximately $1 billion each annually, with growth expected in the coming quarters [59][60]

For the quarter ended July 2024, Marvell Technology (MRVL) reported revenue of $1.27 billion, down 5.1% over the same period last year. EPS came in at $0.30, compared to $0.33 in the year-ago quarter.The reported revenue represents a surprise of +1.79% over the Zacks Consensus Estimate of $1.25 billion. With the consensus EPS estimate being $0.29, the EPS surprise was +3.45%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Marvell Technology (MRVL) came out with quarterly earnings of $0.30 per share, beating the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.45%. A quarter ago, it was expected that this chipmaker would post earnings of $0.23 per share when it actually produced earnings of $0.24, delivering a surprise of 4.35%.Over the last four quarters, the compa ...

Technology, Inc. Reports Second Quarter of Fiscal Year 2025 Financial Results • Q2 Net Revenue: $1.273 billion, declined by (5)% year-on-year • Q2 Gross Margin: 46.2% GAAP gross margin; 61.9% non-GAAP gross margin • Q2 Diluted income (loss) per share: $(0.22) GAAP diluted loss per share; $0.30 non-GAAP diluted income per share Santa Clara, Calif. (August 29, 2024) - Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the seco ...

Q2 Net Revenue: $1.273 billion, declined by (5)% year-on-yearQ2 Gross Margin: 46.2% GAAP gross margin; 61.9% non-GAAP gross marginQ2 Diluted income (loss) per share: $(0.22) GAAP diluted loss per share; $0.30 non-GAAP diluted income per shareSANTA CLARA, Calif., Aug. 29, 2024 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the second quarter of fiscal year 2025.Net revenue for the second quarter of fiscal ...

Marvell Technology, Inc. MRVL is expected to release earnings results for its second quarter, after the closing bell on Thursday, Aug. 29.Analysts expect the Wilmington, Delaware-based company to report quarterly earnings at 30 cents per share, down from 33 cents per share in the year-ago period. Marvell Technology is projected to post revenue of $1.25 billion, according to data from Benzinga Pro.On Aug. 22, Rosenblatt analyst Hans Mosesmann maintained Marvell Tech with a Buy and maintained a $100 price tar ...

Marvell Technology, Inc. (MRVL) will report second-quarter fiscal 2025 results on Aug. 29 after market close.Marvell projects total revenues for the fiscal second quarter of $1.25 billion (+/- 5%). The Zacks Consensus Estimate for revenues is pegged at $1.25 billion, which indicates a decrease of 6.7% from the year-ago quarter’s reported figure.MRVL anticipates non-GAAP earnings per share (EPS) of 29 cents (+/- 5 cents) for the second quarter. The consensus mark for non-GAAP EPS has remained unchanged at 29 ...

A solid set of results could give this chip stock a nice boost.Shares of Marvell Technology (MRVL 1.29%) are up 14% year to date, and there is a good chance the stock could get a nice shot in the arm when it releases its fiscal 2025 second-quarter results on Aug. 29.Though Marvell may be trailing the 22% gain clocked by the PHLX Semiconductor Sector index, the company's growing revenue from sales of artificial intelligence (AI) chips is driving outstanding results for its data-center segment.Marvell is faci ...

Wall Street analysts forecast that Marvell Technology (MRVL) will report quarterly earnings of $0.29 per share in its upcoming release, pointing to a year-over-year decline of 12.1%. It is anticipated that revenues will amount to $1.25 billion, exhibiting a decline of 6.7% compared to the year-ago quarter.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course ...