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Aug 03, 2024
Marvell Q2 2025 Earnings Report
Marvell's Q2 revenue grew sequentially, driven by strong AI demand, with enterprise networking and carrier end markets expected to return to growth in the next quarter.
Key Takeaways
Marvell Technology, Inc. reported Q2 fiscal year 2025 financial results, with net revenue of $1.273 billion, a 10% sequential increase. The company's performance exceeded its guidance, driven by strong demand from AI. For Q3, Marvell expects all end markets to grow sequentially, with consolidated revenue forecasted to grow 14% sequentially at the mid-point.
Q2 net revenue was $1.273 billion, a 5% year-on-year decrease.
GAAP gross margin was 46.2%, while non-GAAP gross margin was 61.9%.
GAAP diluted loss per share was $(0.22), while non-GAAP diluted income per share was $0.30.
The company expects a 14% sequential revenue growth for Q3 fiscal year 2025.
Marvell
Marvell
Marvell Revenue by Segment
Revenue by Segment
Data Center Revenue
CapyFin.comEnterprise Networking Revenue
CapyFin.comCarrier Infrastructure Revenue
CapyFin.comConsumer Revenue
CapyFin.comAutomotive/Industrial Revenue
CapyFin.com Forward Guidance
For the third quarter of fiscal 2025, Marvell expects net revenue to be $1.450 billion +/- 5%. GAAP gross margin is expected to be approximately 47.2% and non-GAAP gross margin is expected to be approximately 61%. GAAP diluted loss per share is expected to be $(0.09) +/- $0.05 per share and non-GAAP diluted income per share is expected to be $0.40 +/- $0.05 per share.
Positive Outlook
- Net revenue is expected to be $1.450 billion +/- 5%.
- GAAP gross margin is expected to be approximately 47.2%.
- Non-GAAP gross margin is expected to be approximately 61%.
- Non-GAAP operating expenses are expected to be approximately $465 million.
- Non-GAAP diluted income per share is expected to be $0.40 +/- $0.05 per share.
Challenges Ahead
- GAAP operating expenses are expected to be approximately $693 million.
- Basic weighted-average shares outstanding are expected to be 867 million.
- Diluted weighted-average shares outstanding are expected to be 875 million.
- GAAP diluted loss per share is expected to be $(0.09) +/- $0.05 per share.
- None
Revenue & Expenses
Visualization of income flow from segment revenue to net income