Marvell Q4 revenue $1.427B above guidance; GAAP loss $(0.45)/share; non-GAAP EPS $0.46; AI data center rev up 54% YoY

Marvell Technology, Inc.

2024-FY EPS reported -$1.08 revenue$5,507,700,000

Q4 revenue $1.427B, above midpoint, up 1% YoY; FY2024 revenue $5.508B.
GAAP Q4 net loss $(392.7M) or $(0.45)/share; non-GAAP net income $401.6M or $0.46/share.
Data center revenue surged 38% QoQ and 54% YoY, driven by AI demand.
Q1 FY2025 guidance: revenue ~$1.150B (down ~19% QoQ); non-GAAP EPS $0.23 +/- $0.05.
Expects soft near-term in consumer, carrier, enterprise networking; recovery in H2 FY2025.

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 fiscal quarter and fiscal year ended February 3, 2024 results: revenue $1.427 billion, net income GAAP net loss for the fourth quarter of fiscal 2024 was $(392.7) million, or $(0.45) per diluted share, EPS $(0.45) per diluted share.

Period: the fourth fiscal quarter and fiscal year ended February 3, 2024
Revenue: $1.427 billion
Net income: GAAP net loss for the fourth quarter of fiscal 2024 was $(392.7) million, or $(0.45) per diluted share
EPS: $(0.45) per diluted share
Result: reported results

Exact text from the filing

Net revenue for the fourth quarter of fiscal 2024 was $1.427 billion, above the mid-point of the Company’s guidance provided on November 30 , 2023. GAAP net loss for the fourth quarter of fiscal 2024 was $(392.7) million, or $(0.45) per diluted share.

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Source: SEC EDGAR

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