Marvell Technology, Inc. MRVL reported its second-quarter financial results after Thursday's closing bell. Here's a look at the details from the report.
The Details: Marvell reported quarterly GAAP earnings of 30 cents per share, in-line with the analyst consensus estimate. Quarterly sales came in at $1.27 billion, which beat the analyst consensus estimate by 1.65%.
Non-GAAP gross margin was 61.9% for the second quarter, and cash flow from operations was $306.4 million.
“Marvell’s second-quarter revenue grew 10% sequentially, above the mid-point of guidance driven by strong demand from AI. We saw strong growth from our electro-optics products and our custom AI programs began to ramp,” said Matt Murphy, Marvell’s Chairman and CEO.
“Next quarter, we expect our combined enterprise networking and carrier end markets to return to growth, while our data center end market growth accelerates. As a result, for the third quarter of fiscal 2025, we expect all our end markets to grow sequentially, with consolidated revenue forecasted to grow 14% sequentially at the mid-point, accompanied by a significant increase in operating leverage.”
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Outlook: Marvell expects third-quarter net revenue of $1.45 billion, plus or minus 5%.
MRVL Price Action: According to Benzinga Pro, Marvell Technology shares are up 6.77% after-hours at $74.57 at the time of publication Thursday.
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