Marvell Q4 2022 Earnings Report
Key Takeaways
Marvell Technology, Inc. reported financial results for the fourth quarter and full fiscal year 2022. The company's Q4 net revenue was $1.343 billion, a 68% year-over-year increase, exceeding the midpoint of the company's guidance. GAAP net income for the quarter was $6 million, or $0.01 per diluted share, while non-GAAP net income was $429 million, or $0.50 per diluted share.
Q4 net revenue was $1.343 billion, up 68% year-over-year.
GAAP gross margin was 51.1%; non-GAAP gross margin was 65.3%.
GAAP diluted income per share was $0.01; non-GAAP diluted income per share was $0.50.
Revenue grew in all five end markets, with strong contributions from cloud, 5G and auto.
Marvell
Marvell
Forward Guidance
Marvell expects net revenue of $1.425 billion +/- 3% for the first quarter of fiscal year 2023. GAAP gross margin is expected to be between 49.6% and 50.6%, while non-GAAP gross margin is expected to be between 65% and 66%.
Positive Outlook
- Net revenue is expected to be $1.425 billion +/- 3%.
- GAAP gross margin is expected to be 49.6% to 50.6%.
- Non-GAAP gross margin is expected to be 65% to 66%.
- GAAP diluted income per share is expected to be $0.01 +/- $0.04 per share.
- Non-GAAP diluted income per share is expected to be $0.51 +/- $0.03 per share.