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Jan 28, 2023
Marvell Q4 2023 Earnings Report
Marvell's Q4 2023 financial results were reported, showing revenue growth and mixed profitability.
Key Takeaways
Marvell Technology reported Q4 fiscal year 2023 results with a net revenue of $1.419 billion, a 6% year-over-year increase. The company's GAAP net loss was $(15) million, or $(0.02) per diluted share, while non-GAAP net income was $396 million, or $0.46 per diluted share.
Q4 net revenue reached $1.419 billion, a 6% increase year-over-year.
GAAP gross margin was 47.5%, and non-GAAP gross margin was 63.5%.
GAAP diluted loss per share was $(0.02), while non-GAAP diluted income per share was $0.46.
Fiscal year 2023 revenue was $5.92 billion, a 33% increase year-over-year.
Forward Guidance
For the first quarter of fiscal year 2024, Marvell expects net revenue to be $1.300 billion +/- 5% and non-GAAP gross margin to be approximately 60%.
Positive Outlook
- Net revenue is expected to be $1.300 billion +/- 5%.
- GAAP gross margin is expected to be 45.1% +/- 1%.
- Non-GAAP gross margin is expected to be approximately 60%.
- Non-GAAP operating expenses are expected to be approximately $460 million.
- Non-GAAP diluted income per share is expected to be $0.29 +/- $0.05 per share.
Challenges Ahead
- GAAP operating expenses are expected to be approximately $687 million.
- GAAP diluted loss per share is expected to be $(0.17) +/- $0.05 per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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