Marvell Q4 revenue $1.419B, up 6% YoY; guides Q1 revenue $1.3B, below Q4 run rate

Marvell Technology, Inc.

2023-FY EPS reported -$0.19 revenue$5,919,600,000

Q4 net revenue $1.419B (+6% YoY); GAAP diluted loss $(0.02)/share, non-GAAP diluted EPS $0.46.
Full FY2023 revenue $5.920B (+33% YoY); GAAP net loss $(164M), non-GAAP net income $1.822B.
Q1 FY2024 guidance: revenue $1.300B ±5%; GAAP gross margin 45.1% ±1%; non-GAAP gross margin ~60%.
Q1 GAAP diluted loss per share expected $(0.17) ±$0.05; non-GAAP diluted EPS $0.29 ±$0.05.
CEO cites inventory corrections impacting Q1, expects normalization later in FY2024.

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 0.9

Marvell Technology, Inc. reported financial results for the fourth quarter and fiscal year 2023 ended January 28, 2023.

Period: the fourth quarter and fiscal year 2023 ended January 28, 2023
Result: reported results

Exact text from the filing

On March 2, 2023, Marvell Technology, Inc. (“Marvell”) issued a press release reporting its financial results for the fourth quarter and fiscal year 2023 ended January 28, 2023.

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Source: SEC EDGAR

accession 0001835632-23-000007

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