Marvell Q3 record revenue $1.54B, up 27% YoY; GAAP EPS $0.02, non-GAAP $0.57; Q4 rev guidance $1.4B

Marvell Technology, Inc.

2023-Q3 EPS reported -$0.17 revenue$4,501,100,000

Q3 revenue $1.537B (record, +27% YoY); GAAP net income $13M ($0.02 EPS); non-GAAP net income $492M ($0.57 EPS).
GAAP gross margin 50.6%; non-GAAP gross margin 64.0%; operating cash flow $411M.
Storage customer inventory reductions impacting near-term; Q4 revenue guidance $1.400B +/-5%.
Q4 non-GAAP EPS guidance $0.46 +/- $0.05; GAAP EPS ~$0.00; non-GAAP gross margin ~64%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Marvell Technology, Inc. reported the fourth quarter of fiscal 2023 results: revenue $1.400 billion +/- 5%, EPS $0.46 +/- $0.05 per share.

Period: the fourth quarter of fiscal 2023
Revenue: $1.400 billion +/- 5%
EPS: $0.46 +/- $0.05 per share
Result: guidance update

Exact text from the filing

Net revenue is expected to be $1.400 billion +/- 5%. • GAAP gross margin is expected to be 49.2% +/- 1%. • Non-GAAP gross margin is expected to be approximately 64.0%. • GAAP operating expenses are expected to be approximately $646 million. • Non-GAAP operating expenses are expected to be approximately $430 million. • Basic weighted average shares outstanding are expected to be 855 million. • Diluted weighted average shares outstanding are expected to be 861 million. • GAAP diluted income per share is expected to be $0.00 +/- $0.05 per share. • Non-GAAP diluted income per share is expected to be $0.46 +/- $0.05 per share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Marvell Technology, Inc. reported the third quarter of fiscal 2023 ended October 29, 2022 results: revenue $1.537 billion, net income $13 million, EPS $0.02 per diluted share.

Period: the third quarter of fiscal 2023 ended October 29, 2022
Revenue: $1.537 billion
Net income: $13 million
EPS: $0.02 per diluted share
Result: reported results

Exact text from the filing

Net revenue for the third quarter of fiscal 2023 was $1.537 billion, at the lower end of the Company’s guidance provided on August 25, 2022. GAAP net income for the third quarter of fiscal 2023 was $13 million, or $0.02 per diluted share.

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Source: SEC EDGAR

accession 0001835632-22-000050

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