电子：迈威尔科技FY25Q3财报简评：数据中心收入接近翻倍增长，业绩超预期

Investment Rating - The industry is rated as "Positive," expecting an overall return exceeding 5% above the CSI 300 index in the next six months [4]. Core Insights - The company reported a revenue of $1.516 billion for FY25Q3, marking a year-on-year growth of 6.87% and a quarter-on-quarter growth of 19.10%, exceeding the midpoint of guidance by $66 million [1]. - The data center business experienced nearly double year-on-year growth, driven by strong demand for AI from Amazon and other cloud service providers [1]. - The company has entered a five-year strategic partnership with AWS, covering various business areas including custom AI solutions and data center interconnect modules [1]. - For FY25Q4, the company guides revenue to be around $1.8 billion, with a projected quarter-on-quarter growth of 19% and non-GAAP earnings per share expected to be between $0.54 and $0.64 [1]. Summary by Sections Financial Performance - FY25Q3 revenue breakdown: Data Center: $1.101 billion (YoY +98.11%), Enterprise Networking: $151 million (YoY -44.34%), Carrier Infrastructure: $847 million (YoY -73.24%), Consumer: $965 million (YoY -22.16%), Automotive & Industrial: $829 million (YoY -22.16%) [1]. Future Guidance - The company anticipates AI-related revenue to exceed $1.5 billion for FY25 and $2.5 billion for FY26 [1].