Marvell Technology (MRVL) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.40 per share. This compares to earnings of $0.41 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.50%. A quarter ago, it was expected that this chipmaker would post earnings of $0.29 per share when it actually produced earnings of $0.30, delivering a surprise of 3.45%.Over the last four quarters, the compa ...

[Financial Highlights & Outlook](index=1&type=section&id=Financial%20Highlights%20%26%20Outlook) [Q3 FY25 Financial Results](index=1&type=section&id=Q3%20FY25%20Financial%20Results) Marvell Technology's Q3 FY25 net revenue of **$1.516 billion** increased 7% year-on-year, exceeding guidance, with a GAAP diluted loss and non-GAAP income per share Three Months Ended November 2, 2024 (in millions, except per share amounts) | Metric | Value | | :-------------------------- | :------------------- | | Net Revenue | $1.516 billion | | GAAP Gross Margin | 23.0% | | Non-GAAP Gross Margin | 60.5% | | GAAP Diluted Loss Per Share | $(0.78) | | Non-GAAP Diluted Income Per Share | $0.43 | | Cash Flow from Operations | $536.3 million | - Q3 FY25 net revenue of **$1.516 billion** was **$66.0 million** above the mid-point of the Company's guidance[3](index=3&type=chunk) [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Matt Murphy highlighted strong Q3 sequential revenue growth from AI and custom AI silicon, anticipating significant Q4 year-over-year revenue acceleration - Marvell's fiscal third quarter 2025 revenue grew **19% sequentially**, well above guidance, driven by strong demand from AI[4](index=4&type=chunk) - Custom AI silicon programs are now in volume production, augmented by robust ongoing demand from cloud customers for interconnect products[4](index=4&type=chunk) - For Q4, the company forecasts another **19% sequential revenue growth** and expects year-over-year revenue growth to accelerate significantly to **26%**, marking the beginning of a new era of growth[4](index=4&type=chunk) [Q4 FY25 Financial Outlook](index=1&type=section&id=Q4%20FY25%20Financial%20Outlook) Marvell projects Q4 FY25 net revenue of **$1.800 billion** (+/- 5%) and non-GAAP diluted net income per share of **$0.59** (+/- $0.05) Q4 FY25 Financial Outlook | Metric | Outlook | | :-------------------------------- | :------------------- | | Net Revenue | $1.800 billion +/- 5% | | GAAP Gross Margin | ~50% | | Non-GAAP Gross Margin | ~60% | | GAAP Operating Expenses | ~$710 million | | Non-GAAP Operating Expenses | ~$480 million | | GAAP Diluted Net Income Per Share | $0.16 +/- $0.05 | | Non-GAAP Diluted Net Income Per Share | $0.59 +/- $0.05 | [Non-GAAP Financial Measures](index=2&type=section&id=Non-GAAP%20Financial%20Measures) [Conference Call Information](index=2&type=section&id=Conference%20Call%20Information) Marvell will host a conference call on December 3, 2024, at 1:45 p.m. PT to discuss Q3 FY25 results, with webcast and replay options - A conference call to discuss Q3 FY25 results will be held on **Tuesday, December 3, 2024, at 1:45 p.m. Pacific Time**[7](index=7&type=chunk) - Interested parties can join via registration for an automated call back, direct dial, or access the webcast on the Marvell Investor Relations website[7](index=7&type=chunk) [Discussion of Non-GAAP Measures](index=2&type=section&id=Discussion%20of%20Non-GAAP%20Measures) Marvell uses non-GAAP measures, excluding items like stock-based compensation, for supplemental insights and internal evaluation, not as a GAAP substitute - Non-GAAP financial measures exclude stock-based compensation, amortization of acquired intangible assets, acquisition/divestiture-related costs, restructuring charges, and certain discrete event expenses[8](index=8&type=chunk) - A non-GAAP tax rate of **7.0%** was applied for the third quarter of fiscal 2025, based on estimated annual GAAP income tax forecast adjusted for non-GAAP items[9](index=9&type=chunk) - Non-GAAP measures are used internally for management's evaluation of operating performance, budgeting, performance comparisons, and compensation determination, and externally for assessing operating performance and valuation[11](index=11&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements%20under%20the%20Private%20Securities%20Litigation%20Reform%20Act%20of%201995) [Forward-Looking Statements Disclaimer](index=3&type=section&id=Forward-Looking%20Statements%20Disclaimer) This section contains forward-looking statements subject to known and unknown risks, including macroeconomic conditions and supply chain disruptions, with no commitment to updates - Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from implied statements[13](index=13&type=chunk) - Key risks include changes in general macroeconomic conditions, ability to estimate customer demand, dependence on a few customers, downturns in the semiconductor industry, and supply chain disruptions[13](index=13&type=chunk) - The company assumes no obligation and does not intend to update or revise these forward-looking statements[13](index=13&type=chunk) [About Marvell Technology, Inc.](index=4&type=section&id=About%20Marvell) [Company Overview](index=4&type=section&id=Company%20Overview) Marvell Technology is a leading provider of data infrastructure semiconductor solutions, collaborating globally to move, store, process, and secure data across diverse architectures - Marvell is a leader in data infrastructure semiconductor solutions, building solutions through partnerships with customers[14](index=14&type=chunk) - The company moves, stores, processes, and secures the world's data with semiconductor solutions designed for current and future needs[14](index=14&type=chunk) - Marvell's solutions transform enterprise, cloud, automotive, and carrier architectures through deep collaboration and transparency[14](index=14&type=chunk) [Condensed Consolidated Financial Statements](index=5&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Marvell reported Q3 FY25 net revenue of **$1,516.1 million**, a GAAP gross profit of **$349.4 million**, and a net loss of **$(676.3) million**, resulting in a diluted net loss per share Three Months Ended November 2, 2024 (in millions, except per share amounts) | Metric | Amount (USD) | | :-------------------------- | :------- | | Net Revenue | $1,516.1 | | Cost of Goods Sold | $1,166.7 | | Gross Profit | $349.4 | | Total Operating Expenses | $1,052.2 | | Operating Loss | $(702.8) | | Net Loss | $(676.3) | | Net Loss Per Share — Diluted | $(0.78) | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of November 2, 2024, Marvell's total assets were **$19,715.6 million**, with cash and cash equivalents at **$868.1 million**, total liabilities, and stockholders' equity As of November 2, 2024 (in millions) | Metric | Nov 2, 2024 (USD) | Feb 3, 2024 (USD) | | :---------------------------- | :---------- | :---------- | | Cash and Cash Equivalents | $868.1 | $950.8 | | Total Current Assets | $2,816.8 | $3,062.7 | | Goodwill | $11,586.9 | $11,586.9 | | Acquired Intangible Assets, net | $2,957.7 | $4,004.1 | | Total Assets | $19,715.6 | $21,228.5 | | Total Liabilities | $6,342.7 | $6,397.1 | | Total Stockholders' Equity | $13,372.9 | $14,831.4 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For Q3 FY25, Marvell generated **$536.3 million** in net cash from operating activities, with investing and financing activities resulting in a **$59.4 million** net increase in cash and cash equivalents Three Months Ended November 2, 2024 (in millions) | Metric | Amount (USD) | | :---------------------------------------- | :------- | | Net Cash Provided by Operating Activities | $536.3 | | Net Cash Used in Investing Activities | $(75.5) | | Net Cash Used in Financing Activities | $(401.4) | | Net Increase in Cash and Cash Equivalents | $59.4 | | Cash and Cash Equivalents at End of Period | $868.1 | [Reconciliations from GAAP to Non-GAAP](index=8&type=section&id=Reconciliations%20from%20GAAP%20to%20Non-GAAP) [Q3 FY25 GAAP to Non-GAAP Reconciliations](index=8&type=section&id=Q3%20FY25%20GAAP%20to%20Non-GAAP%20Reconciliations) Marvell's Q3 FY25 GAAP results were reconciled to non-GAAP by adjusting for special items, resulting in a non-GAAP gross profit of **$917.1 million** (60.5% margin) and non-GAAP net income of **$373.0 million** Q3 FY25 GAAP to Non-GAAP Gross Profit and Margin (in millions) | Metric | GAAP (USD) | Special Items (USD) | Non-GAAP (USD) | | :------------------- | :------- | :------------ | :------- | | Gross Profit | $349.4 | $567.7 | $917.1 | | Gross Margin | 23.0% | | 60.5% | Q3 FY25 GAAP to Non-GAAP Operating Expenses and Margin (in millions) | Metric | GAAP (USD) | Special Items (USD) | Non-GAAP (USD) | | :------------------------- | :--------- | :------------ | :--------- | | Total Operating Expenses | $1,052.2 | $(585.3) | $466.9 | | Operating Margin | (46.4)% | | 29.7% | Q3 FY25 GAAP to Non-GAAP Net Income and EPS (in millions, except per share amounts) | Metric | GAAP (USD) | Special Items (Pre-tax) (USD) | Non-GAAP (USD) | | :-------------------------------- | :--------- | :---------------------- | :------- | | Net Loss/Income | $(676.3) | $1,151.6 | $373.0 | | Diluted Net Loss/Income Per Share | $(0.78) | | $0.43 | [Q4 FY25 Outlook GAAP to Non-GAAP Reconciliations](index=11&type=section&id=Q4%20FY25%20Outlook%20GAAP%20to%20Non-GAAP%20Reconciliations) Q4 FY25 outlook reconciles GAAP to non-GAAP, adjusting for special items, projecting a non-GAAP gross margin of approximately **60%** and diluted net income per share Q4 FY25 Outlook GAAP to Non-GAAP Gross Margin | Metric | GAAP Outlook | Special Items | Non-GAAP Outlook | | :----------- | :----------- | :------------ | :--------------- | | Gross Margin | ~50% | 0.7% (SBC), 9.3% (Amort.) | ~60% | Q4 FY25 Outlook GAAP to Non-GAAP Operating Expenses (in millions) | Metric | GAAP Outlook (USD) | Special Items (USD) | Non-GAAP Outlook (USD) | | :----------------------- | :----------- | :------------ | :--------------- | | Total Operating Expenses | ~$710 | 142 (SBC), 78 (Amort.), 10 (Restruct.) | ~$480 | Q4 FY25 Outlook GAAP to Non-GAAP Diluted Net Income Per Share | Metric | GAAP Outlook | Special Items | Non-GAAP Outlook | | :--------------------------- | :----------- | :------------ | :--------------- | | Diluted Net Income Per Share | $0.16 +/- $0.05 | 0.18 (SBC), 0.28 (Amort.), 0.01 (Restruct.), (0.04) (Tax) | $0.59 +/- $0.05 | [Quarterly Revenue Trend](index=12&type=section&id=Quarterly%20Revenue%20Trend) [End Market Overview](index=12&type=section&id=End%20Market%20Overview) Marvell's product solutions serve five key end markets: data center, enterprise networking, carrier infrastructure, consumer, and automotive/industrial - Marvell's product solutions serve five large end markets: data center, enterprise networking, carrier infrastructure, consumer, and automotive/industrial[30](index=30&type=chunk) - Data center applications include cloud and on-premise AI systems, ethernet switching, network-attached storage, and various servers[30](index=30&type=chunk) [Quarterly Revenue Trends by End Market](index=13&type=section&id=Quarterly%20Revenue%20Trends%20by%20End%20Market) Q3 FY25 Data Center revenue grew substantially to **$1,101.1 million**, increasing **98%** year-over-year and **25%** quarter-over-quarter, now representing **73%** of total net revenue Revenue by End Market (Three Months Ended November 2, 2024, in millions) | End Market | Revenue (USD) | % Change YoY | % Change QoQ | % of Total Revenue | | :-------------------- | :-------- | :----------- | :----------- | :----------------- | | Data Center | $1,101.1 | 98% | 25% | 73% | | Enterprise Networking | $150.9 | (44)% | —% | 10% | | Carrier Infrastructure | $84.7 | (73)% | 12% | 6% | | Consumer | $96.5 | (43)% | 9% | 6% | | Automotive/Industrial | $82.9 | (22)% | 9% | 5% | | **Total Net Revenue** | **$1,516.1** | **7%** | **19%** | **100%** |

Q3 Net Revenue: $1.516 billion, grew by 7% year-on-year Q3 Gross Margin: 23.0% GAAP gross margin; 60.5% non-GAAP gross margin Q3 Diluted income (loss) per share: $(0.78) GAAP diluted loss per share; $0.43 non-GAAP diluted income per shareSANTA CLARA, Calif., Dec. 3, 2024 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the third quarter of fiscal year 2025.Net revenue for the third quarter of fiscal 2025 w ...

On Monday, Amazon Web Services (AWS) and Marvell Technology, Inc MRVL announced an expanded relationship for AI and data connectivity products.The five-year “multi-generational” agreement covers multiple AWS products and cloud infrastructure, developing the strategic relationship.Leveraging its silicon technologies, Marvell will provide AWS with a “broad range” of data center semiconductors, including custom AI products (AWS Trainium2.0 custom AI ASIC), optical digital signal processors (DSPs), active elect ...

Marvell Technology Inc MRVL will be reporting its third-quarter earnings on Tuesday. Wall Street expects 41 cents in EPS and $1.46 billion in revenues as the company reports after market hours.The stock is up 86.35% over the past year, 42.09% over the past six months.Let’s look at what the charts indicate for Marvell stock and how the stock currently maps against Wall Street estimates.Read Also: Marvell Technology Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings CallMar ...

Core Insights - Marvell Technology, Inc. has expanded its strategic relationship with Amazon Web Services (AWS) through a five-year, multi-generational agreement, focusing on collaboration across multiple AWS products and cloud infrastructure [2][5] - The agreement encompasses a wide range of data center semiconductors, including custom AI products, optical digital signal processors, active electrical cable DSPs, PCIe retimers, data center interconnect optical modules, and Ethernet switching silicon solutions [3][4] - This partnership aims to enhance AWS's data center compute, networking, and storage offerings, leading to greater efficiency, lower total cost of ownership, and faster time to market for AWS and its customers [3][4] Group 1 - The collaboration allows Marvell to leverage AWS's advanced and scalable compute capabilities for electronic design automation (EDA) in the cloud, accelerating silicon design processes [4][5] - Marvell's engineering teams will benefit from the virtually unlimited scale and elasticity of AWS's compute infrastructure, enabling them to handle dynamic compute requirements more effectively [4][5] - The partnership is seen as a significant milestone for Marvell, reinforcing its long-standing relationship with AWS in the cloud computing and data center semiconductor sectors [5] Group 2 - AWS's CEO emphasized that the collaboration will help build a cost and power-efficient cloud infrastructure, leveraging leading-edge semiconductors to meet customer demands [5] - Marvell has been a trusted partner for over 25 years, focusing on delivering data infrastructure technology that connects the world through semiconductor solutions [6]

The market for artificial intelligence (AI) chips has been dominated by Nvidia, which explains why the semiconductor giant recently delivered another stellar set of results for the third quarter of fiscal 2025 (which ended on Oct. 27).The chipmaker's revenue shot up a whopping 94% year over year to $35.1 billion, while its immense pricing power helped it more than double its adjusted earnings to $0.81 per share. However, the market's reaction to Nvidia's outstanding results has been lukewarm. In fact, the s ...

Marvell Technology (MRVL) is scheduled to report third-quarter fiscal 2025 on Dec. 3.Marvell projects total revenues for the fiscal third quarter of $1.45 billion (+/- 5%). The Zacks Consensus Estimate for revenues is pegged at $1.45 billion, which indicates an increase of 2.5% from the year-ago quarter’s reported figure.MRVL anticipates non-GAAP earnings to be in the band of 35-45 cents per share (+/- 5 cents) for the third quarter. The consensus mark for non-GAAP earnings is pegged at 40 cents, which call ...

Marvell Technology (MRVL) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Individu ...

Wall Street analysts expect Marvell Technology (MRVL) to post quarterly earnings of $0.40 per share in its upcoming report, which indicates a year-over-year decline of 2.4%. Revenues are expected to be $1.45 billion, up 2.5% from the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Prior to a company's earnings announcement, it ...