Marvell Q3 revenue $1.419B (-8% YoY); GAAP EPS $(0.19), non-GAAP $0.41; Q4 guidance in-line

Marvell Technology, Inc.

2024-Q3 EPS reported -$0.63 revenue$4,081,200,000

Revenue $1.419B, up 6% sequentially and above guidance midpoint by $19M; datacenter grew >20% QoQ.
GAAP net loss $(164.3)M ($(0.19) diluted loss); non-GAAP net income $354.1M ($0.41 diluted).
GAAP gross margin 38.9%; non-GAAP gross margin 60.6%; cash flow from ops $503.0M.
Q4 outlook: revenue ~$1.420B ±5%, GAAP EPS $(0.03) ±$0.05, non-GAAP EPS $0.46 ±$0.05.
CEO expects datacenter growth >30% QoQ in Q4; overall revenue flat sequentially.

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 third quarter of fiscal 2024 ended October 28, 2023 results: revenue $1.419 billion, net income $(164.3) million, or $(0.19) per diluted share.

Period: third quarter of fiscal 2024 ended October 28, 2023
Revenue: $1.419 billion
Net income: $(164.3) million, or $(0.19) per diluted share
Result: reported results

Exact text from the filing

2 q324_8kx10282023ex-991.htm EXHIBIT 99.1 Document Exhibit 99.1 Marvell Technology, Inc. Reports Third Quarter of Fiscal Year 2024 Financial Results • Q3 Net Revenue: $1.419 billion, declined by 8% year-on-year • Q3 Gross Margin: 38.9% GAAP gross margin; 60.6% non-GAAP gross margin • Q3 Diluted income (loss) per share: $(0.19) GAAP diluted loss per share;

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Source: SEC EDGAR

accession 0001835632-23-000044

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