$MRVL (+1,19%) Marvell Technology reported earnings

Q3 FY2025 results ended on October 31st 2024

- Revenue: $1.52B, +7% YoY

- Net Loss: $676.3M vs -$164.3M YoY

- Operating Cash Flow: $536.3M, +7% YoY

- GAAP Loss per Share: -$0.78 vs -$0.19 YoY

CEO Matt Murphy: "Marvell's fiscal third quarter 2025 revenue grew 19% sequentially, well above the mid-point of our guidance, driven by strong demand from AI. For the fourth quarter, we are forecasting another 19% sequential revenue growth at the midpoint of guidance."

Revenue & Growth

- Data Center: $1.10B, +98% YoY

- Enterprise Networking: $150.9M, -44% YoY

- Carrier Infrastructure: $84.7M, -73% YoY

- Consumer: $96.5M, -43% YoY

- Automotive/Industrial: $82.9M, -22% YoY

Profits & Financials

- GAAP Gross Margin: 23.0% vs 38.9% YoY

- Non-GAAP Gross Margin: 60.5% vs 60.6% YoY

- GAAP Operating Loss: $702.8M vs $146.3M YoY

- Non-GAAP Operating Income: $373.0M vs $354.1M YoY

Business Highlights

- Custom AI silicon programs now in volume production

- Strong cloud customer demand for interconnect products

- Restructuring related charges of $358.3M

- Stock repurchases of $200M during Q3

- Dividend payments of $51.9M

Future Outlook

- Q4 Revenue: $1.80B ±5%, +26% YoY expected

- Q4 GAAP Gross Margin: ~50%

- Q4 Non-GAAP Gross Margin: ~60%

- Q4 GAAP EPS: $0.16 ±$0.05

- Q4 Non-GAAP EPS: $0.59 ±$0.05