Overview

• Marvell reported $1.9 billion in first-quarter revenue and non-GAAP earnings of $0.62 per share, topping analyst estimates of $1.88 billion and $0.61.
• Data centre revenue reached a record $1.44 billion in Q1, a 76% year-over-year increase that brings its two-year growth to threefold.
• The company projects second-quarter net revenue of $2 billion, plus or minus 5%, and non-GAAP EPS of $0.67 ± $0.05.
• Consumer end-market revenue declined 29% sequentially to $63.1 million amid broader economic uncertainty and gaming seasonality, while industrial sales fell 12%.
• Marvell has deepened partnerships with Amazon Web Services and other hyperscalers to scale its custom silicon and electro-optics programmes even as it faces fierce competition and economic headwinds.