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Jul 30, 2022
Marvell Q2 2023 Earnings Report
Marvell's Q2 2023 revenue reached a record $1.52 billion, marking the 9th consecutive quarter of sequential growth.
Key Takeaways
Marvell Technology, Inc. reported financial results for the second quarter of fiscal year 2023, with net revenue of $1.517 billion, a 41% year-over-year increase. GAAP net income was $4 million, or $0.01 per diluted share, while non-GAAP net income was $486 million, or $0.57 per diluted share.
Q2 net revenue was $1.517 billion, a 41% increase year-over-year.
GAAP gross margin was 51.8%, and non-GAAP gross margin was 65.0%.
GAAP diluted income per share was $0.01, and non-GAAP diluted income per share was $0.57.
Company expects sequential revenue growth to accelerate in the fourth quarter as supply constraints begin to ease.
Revenue by Segment
Forward Guidance
Marvell expects for the third quarter of fiscal year 2023, net revenue to be $1.560 billion +/- 3%, GAAP gross margin is expected to be 51.1% +/- 1.1%, and non-GAAP gross margin is expected to be 65.0% +/- 0.25%.
Positive Outlook
- Net revenue is expected to be $1.560 billion +/- 3%.
- GAAP gross margin is expected to be 51.1% +/- 1.1%.
- Non-GAAP gross margin is expected to be 65.0% +/- 0.25%.
- GAAP diluted income per share is expected to be $0.09 +/- $0.04 per share.
- Non-GAAP diluted income per share is expected to be $0.59 +/- $0.03 per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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