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Marvell Technology | 8-K: Marvell Technology, Inc. Reports Second Quarter of Fiscal Year 2025 Financial Results

SEC ·  Aug 30 04:12
Summary by Futu AI
On August 29, 2024, Marvell Technology, Inc. released its financial results for the second quarter of fiscal year 2025, which ended on August 3, 2024. The company reported a net revenue of $1.273 billion, which was $23.0 million above their guidance provided earlier on May 30, 2024. The GAAP net loss was $(193.3) million, or $(0.22) per diluted share, while non-GAAP net income was $266.2 million, or $0.30 per diluted share. The company's GAAP gross margin was 46.2%, and non-GAAP gross margin was 61.9%. Marvell's CEO, Matt Murphy, highlighted a 10% sequential growth in revenue, driven by strong demand from AI and growth in electro-optics products. For the third quarter of fiscal 2025, Marvell anticipates all end markets to grow sequentially, forecasting a 14% sequential revenue increase at the mid-point, with improved operating leverage. The company expects a GAAP gross margin of approximately 47.2% and non-GAAP gross margin of around 61% for the next quarter. Marvell will conduct a conference call to discuss these results and has provided a webcast link for interested parties.
On August 29, 2024, Marvell Technology, Inc. released its financial results for the second quarter of fiscal year 2025, which ended on August 3, 2024. The company reported a net revenue of $1.273 billion, which was $23.0 million above their guidance provided earlier on May 30, 2024. The GAAP net loss was $(193.3) million, or $(0.22) per diluted share, while non-GAAP net income was $266.2 million, or $0.30 per diluted share. The company's GAAP gross margin was 46.2%, and non-GAAP gross margin was 61.9%. Marvell's CEO, Matt Murphy, highlighted a 10% sequential growth in revenue, driven by strong demand from AI and growth in electro-optics products. For the third quarter of fiscal 2025, Marvell anticipates all end markets to grow sequentially, forecasting a 14% sequential revenue increase at the mid-point, with improved operating leverage. The company expects a GAAP gross margin of approximately 47.2% and non-GAAP gross margin of around 61% for the next quarter. Marvell will conduct a conference call to discuss these results and has provided a webcast link for interested parties.
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