Revenue and Sales Performance - Net revenue for the three months ended November 2, 2024, was $1,516.1 million, compared to $1,418.6 million in the same period last year[9] - Net revenue for the three months ended November 2, 2024 was $1,516.1 million, with direct customers contributing $895.4 million (59%) and distributors contributing $620.7 million (41%)[29] - For the nine months ended November 2, 2024, net revenue was $3,949.9 million, with direct customers contributing $2,229.2 million (56%) and distributors contributing $1,720.7 million (44%)[29] - Net revenue in Q3 FY2025 was $1.5 billion, a 7% increase compared to Q3 FY2024, driven by a 98% increase in data center sales, partially offset by declines in carrier infrastructure (-73%), enterprise networking (-44%), consumer (-43%), and automotive/industrial (-22%) markets[117] - Net revenue for the three months ended November 2, 2024 increased by $97.5 million (7%) compared to the same period in 2023, driven by a 98% increase in data center sales due to strong AI demand[133] - Net revenue for the nine months ended November 2, 2024 decreased by $131.3 million (3%) compared to the same period in 2023, primarily due to declines in carrier infrastructure (74%), enterprise networking (53%), consumer (52%), and automotive/industrial (23%) markets[134] - Data center revenue for the three months ended November 2, 2024, was $1,101.1 million, representing 73% of total revenue, up from $555.8 million (39%) in the same period last year[27] - Revenue from enterprise networking decreased to $150.9 million (10% of total) in the three months ended November 2, 2024, from $271.1 million (19%) in the same period last year[27] - Revenue from the automotive/industrial sector was $82.9 million (5% of total) in the three months ended November 2, 2024, down from $106.5 million (8%) in the same period last year[27] - The United States contributed 17% ($256.0 million) of total revenue in the three months ended November 2, 2024, up from 15% ($217.1 million) in the same period last year[27] - China accounted for 43% of total revenue in the three months ended November 2, 2024, with $658.4 million, compared to 43% ($605.3 million) in the same period last year[27] - Sales to customers in Asia represented 74% and 75% of net revenue in Q3 and the nine months ended November 2, 2024, respectively, up from 66% and 68% in the same periods of FY2023[126] - Data center revenue for the nine months ended November 2, 2024, was $2,798.4 million, representing 71% of total revenue, compared to $1,451.4 million (36%) in 2023[26] - China accounted for 45% of total revenue ($1,774.8 million) for the nine months ended November 2, 2024, up from 41% ($1,690.3 million) in 2023[26] - Enterprise networking revenue for the nine months ended November 2, 2024, was $455.0 million (12% of total), down from $963.4 million (24%) in 2023[26] - Carrier infrastructure revenue for the nine months ended November 2, 2024, was $232.4 million, compared to $881.9 million (22% of total) in 2023[26] - Consumer revenue for the nine months ended November 2, 2024, was $227.4 million, down from $478.5 million (12% of total) in 2023[26] - Automotive/industrial revenue for the nine months ended November 2, 2024, was $236.7 million, compared to $306.0 million (6% of total) in 2023[26] - The United States accounted for 17% of total revenue ($675.4 million) for the nine months ended November 2, 2024, up from 15% ($607.2 million) in 2023[26] - Taiwan accounted for 7% of total revenue ($279.6 million) for the nine months ended November 2, 2024, up from 3% ($135.8 million) in 2023[26] Profit and Loss - Net loss for the three months ended November 2, 2024, was $676.3 million, compared to $164.3 million in the same period last year[9] - Gross profit for the three months ended November 2, 2024, was $349.4 million, down from $551.2 million in the same period last year[9] - Operating loss for the three months ended November 2, 2024, was $702.8 million, compared to $146.3 million in the same period last year[9] - Comprehensive loss for the three months ended November 2, 2024, was $676.2 million, compared to $164.7 million in the same period last year[12] - Net loss per share (diluted) for the three months ended November 2, 2024, was $0.78, compared to $0.19 in the same period last year[9] - Net loss for the quarter ending November 2, 2024, was $676.3 million[13] - Net loss for the nine months ended November 2, 2024, was $1,085.2 million, compared to $540.7 million for the same period in 2023[17] - Net loss for the quarter ending October 28, 2023, was $164.3 million[15] - Net loss for the nine months ended October 28, 2023 was $540.7 million[17] - Net loss for the three months ended November 2, 2024 was $676.1 million (44.6% of net revenue), compared to $163.1 million (11.5% of net revenue) in the same period in 2023[131] - The company reported a net loss of $676.3 million for the three months ended November 2, 2024, and $1,085.2 million for the nine months ended November 2, 2024[96] - Basic and diluted net loss per share were $(0.78) for the three months ended November 2, 2024, and $(1.25) for the nine months ended November 2, 2024[96] Assets and Liabilities - Total assets as of November 2, 2024, were $19,715.6 million, down from $21,228.5 million as of February 3, 2024[7] - Cash and cash equivalents decreased to $868.1 million as of November 2, 2024, from $950.8 million as of February 3, 2024[7] - Total current liabilities as of November 2, 2024, were $1,763.6 million, down from $1,814.2 million as of February 3, 2024[7] - Total stockholders' equity decreased to $13,372.9 million as of November 2, 2024[13] - Accumulated deficit increased to $1,257.5 million as of November 2, 2024[13] - Total stockholders' equity was $15,233.4 million as of October 28, 2023[15] - Total assets decreased from $21,228.5 million as of February 3, 2024 to $19,715.6 million as of November 2, 2024[7] - Total liabilities decreased from $6,397.1 million as of February 3, 2024 to $6,342.7 million as of November 2, 2024[7] - Cash and cash equivalents decreased from $950.8 million as of February 3, 2024 to $868.1 million as of November 2, 2024[7] - Accounts receivable decreased from $1,121.6 million as of February 3, 2024 to $997.9 million as of November 2, 2024[7] - Inventories decreased slightly from $864.4 million as of February 3, 2024 to $859.4 million as of November 2, 2024[7] - Total stockholders' equity decreased from $14,831.4 million as of February 3, 2024 to $13,372.9 million as of November 2, 2024[7] - Retained earnings as of October 28, 2023 decreased to $427.9 million from $1,123.5 million at the beginning of the year[15] - Inventories as of November 2, 2024, were $859.4 million, compared to $864.4 million as of February 3, 2024[100] - Property and equipment, net, as of November 2, 2024, were $781.9 million, compared to $756.0 million as of February 3, 2024[100] - Other non-current assets as of November 2, 2024, were $1,165.8 million, compared to $1,506.9 million as of February 3, 2024[100] - Accrued liabilities as of November 2, 2024, were $825.2 million, compared to $1,032.9 million as of February 3, 2024[102] - Other non-current liabilities as of November 2, 2024, were $613.6 million, compared to $524.3 million as of February 3, 2024[103] - Accumulated other comprehensive income (loss) as of November 2, 2024, was $(0.3) million, compared to $(1.4) million as of February 3, 2024[104] - The carrying value of goodwill as of November 2, 2024 was $11.6 billion[40] - Net carrying amounts of acquired intangible assets as of November 2, 2024 were $2,621.7 million for developed technologies, $741.6 million for customer contracts, and $14.7 million for trade names[41] - The fair value of the company's Level 1 assets, primarily marketable equity investments, is $9.3 million, while Level 2 assets, including time deposits and severance pay funds, total $49.8 million[48] - The carrying value of non-marketable equity investments is $49.4 million as of November 2, 2024, classified as Level 3 in the fair value hierarchy[50] - The estimated aggregate fair value of the company's unsecured senior notes is $3.4 billion as of November 2, 2024, classified as Level 2 in the fair value hierarchy[52] - Total outstanding debt as of November 2, 2024, is $4,123.3 million, with a net carrying amount of $4,094.9 million after adjusting for unamortized debt discount and issuance costs[54] - The 5-Year Tranche Loan under the 2024 and 2026 Term Loan Agreement has an outstanding principal of $623.4 million as of November 2, 2024, with an effective interest rate of 4.980%[57] - The 2023 Revolving Credit Facility has a borrowing capacity of $1.0 billion, with an unused commitment fee rate of 0.175% as of November 2, 2024[60] - The company issued $500.0 million in 5.750% Senior Notes due 2029 and $500.0 million in 5.950% Senior Notes due 2033 on September 18, 2023[63] - The company has $1.0 billion in borrowings outstanding from the 2029 and 2033 Senior Notes as of November 2, 2024[64] - The company has $2.0 billion in borrowings outstanding from the 2026, 2028, and 2031 Senior Notes as of November 2, 2024[67] - The company has $499.9 million in borrowings outstanding from the MTI 2028 Notes and MTG 2028 Notes as of November 2, 2024[73] - The company's aggregate future contractual maturities of outstanding debt as of November 2, 2024, total $4,123.3 million[76] - The company's total future unconditional purchase commitments as of November 2, 2024, are $1,743.4 million for foundries and test & assembly partners, and $390.3 million for technology license fees[79] - The company has agreed to purchase level commitments of at least $615.1 million of wafers, substrates, and other manufacturing products for the remainder of fiscal 2025 through fiscal 2033 under capacity reservation agreements[82] - The company has aggregate remaining fees of $268.5 million payable quarterly over a 10-year technology licensing agreement term[83] - The company reserved $50.0 million in relation to a contractual disagreement with a customer influenced by restructuring actions in the third quarter of fiscal 2025[85] - The company recognized approximately $198.0 million of charges for product-related claims, which were fully resolved in the fourth quarter of fiscal 2024[86] - The company's restructuring liability balance as of November 2, 2024, was $365.7 million, including $358.9 million for exit-related costs and $6.8 million for employee severance[37] - Restructuring liability includes $120.8 million in accrued liabilities and $8.0 million in accounts payable[39] - Goodwill carrying value as of November 2, 2024, and February 3, 2024, was $11.6 billion[40] - Net carrying amount of acquired intangible assets as of November 2, 2024, was $2,957.7 million, with $240.1 million impairment charges recognized[41] Expenses and Charges - Research and development expenses for the three months ended November 2, 2024, were $488.6 million, up from $481.1 million in the same period last year[9] - The company recognized $715.1 million in restructuring and related charges for the three and nine months ended November 2, 2024, including $159.0 million impairment of capitalized purchased technology licenses[34] - Restructuring charges included $240.1 million impairment of acquired intangible assets, $159.0 million impairment of purchased technology licenses, and $97.8 million related to future service payment obligations[34] - The company initiated a restructuring plan in fiscal 2025 to increase R&D investment in the data center end market and reduce investment in other end markets, resulting in asset impairment charges[33] - The company expects the Fiscal 2025 restructuring plan to be substantially completed by the end of fiscal 2026[34] - The current portion of the restructuring liability as of November 2, 2024 was $128.8 million, with $120.8 million included in accrued liabilities and $8.0 million in accounts payable[39] - Estimated future amortization expense of acquired intangible assets for the remainder of 2025 is $247.0 million, with total future amortization expenses reaching $2,621.7 million[45] - Amortization expense for acquired intangible assets was $264.9 million for the three months ended November 2, 2024 and $805.5 million for the nine months ended November 2, 2024[44] - The company recognized $715.1 million in restructuring charges for the three months ended November 2, 2024, primarily due to impairment of acquired intangible assets ($240.1 million) and purchased technology licenses ($159.0 million)[34] - Restructuring charges for the nine months ended November 2, 2024, totaled $723.2 million, including $240.1 million for impairment of acquired intangible assets and $159.0 million for purchased technology licenses[37] - The company's Fiscal 2025 Plan aims to increase R&D investment in the data center market and reduce investment in other end markets, resulting in $715.1 million in restructuring charges for the three months ended November 2, 2024[33] - Restructuring charges of $715.1 million were recognized in Q3 FY2025, primarily for impairment and write-offs of intangible assets, inventories, and property, as well as severance and other termination benefits[122] - Research and development expenses remained relatively flat at $488.6 million (32.2% of net revenue) for the three months ended November 2, 2024 compared to the same period in 2023[136] - Selling, general and administrative expenses decreased by $7.7 million to $205.3 million (13.6% of net revenue) for the three months ended November 2, 2024 compared to the same period in 2023[137][139] - Restructuring related charges increased significantly to $358.3 million (23.6% of net revenue) for the three months ended November 2, 2024, compared to $3.4 million in the same period in 2023[140] - Interest and other loss, net increased by $6.5 million to $47.7 million (3.1% of net revenue) for the three months ended November 2, 2024 compared to the same period in 2023, primarily due to exchange rate fluctuations[141] - The company recognized $45.6 million and $138.9 million in interest expense for the three and nine months ended November 2, 2024, respectively[75] - Depreciation and amortization for the nine months ended October 28, 2023 was $226.0 million[17] - Amortization of acquired intangible assets for the nine months ended October 28, 2023 was $811.6 million[17] - Amortization expense for acquired intangible assets for the three months ended November 2, 2024, was $264.9 million, and for the nine months, it was $805.5 million[44] - Estimated future amortization expense of acquired amortizable intangible assets as of November 2, 2024, is $2,621.7 million, with $247.0 million expected in the remainder of 2025[45] Cash Flow and Financing - Net cash provided by operating activities for the nine months ended November 2, 202

ToplineShares of Marvell Technology surged to a record high on Wednesday, as the semiconductor firm eclipsed a market capitalization of $100 billion for the first time after reporting better-than-expected earnings and an expanded deal with Amazon to collaborate on cloud software and hardware.The semiconductor firm announced a five-year deal with Amazon to collaborate on cloud software and ... [+] hardware.© 2024 Bloomberg Finance LP Key FactsMarvell’s shares jumped nearly 23% to just under $118 as of around ...

Shares of Marvell Technology (MRVL 24.13%) were surging today after the semiconductor maker posted better-than-expected results in its third-quarter earnings report, driven in part by strong AI demand and guidance.As of 1:03 p.m. ET, the stock was up 23.6% on the news. Marvell tops estimatesYear-over-year revenue growth remained modest at Marvell as it continues to work through an earlier slowdown in the chip sector, but the company still topped estimates.Revenue in the quarter was up 7% from a year ago, or ...

Marvell Technology (MRVL) reported third-quarter fiscal 2025 non-GAAP earnings of 43 cents per share, decisively exceeding the Zacks Consensus Estimate by 7.5%. Quarterly earnings also came ahead of the midpoint of the company’s guidance of 40 cents (+/- 5 cents). Furthermore, the bottom line increased 4.9% due to higher revenues and effective cost management.Marvell’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 3.8%.Find the latest EPS estim ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Shares of Marvell Technology Inc MRV climbed in early trading on Wednesday, after the company reported upbeat earnings for the third quarter.Bank of America Securities analyst Vivek Arya maintained a Buy rating, while raising the price target from $108 to $125.Stifel analyst Tore Svanberg reiterated a Buy rating, while raising the price target from $114 to $125.Goldman Sachs analyst Toshiya Hari reiterated a Buy rating, while raising the price target from $87 to $115.Oppenheimer analyst Rick Schafer maintai ...

JR Research is an opportunistic investor. He was recognized by TipRanks as a Top Analyst. He was also recognized by Seeking Alpha as a "Top Analyst To Follow" for Technology, Software, and Internet, as well as for Growth and GARP. He identifies attractive risk/reward opportunities supported by robust price action to potentially generate alpha well above the S&P 500. He has also demonstrated outperformance with his picks. He focuses on identifying growth investing opportunities that present the most attracti ...

Marvell Technology Inc (NASDAQ:MRVL) earlier issued upbeat fiscal-fourth quarter guidance due to artificial intelligence (AI) demand. The company also reported a top- and bottom-line win for the third quarter and saw no fewer than 17 price-target hikes, including one from Rosenblatt Securities to $140 from $120. At last check, MRVL is up 20.8% to trade at a fresh record high of $115.83, blasting through recent resistance from $100 level and pacing for its best single-day percentage gain since May 2023. Shar ...

Key TakeawaysShares in Marvell Technology jumped in premarket trading Wednesday after the chipmaker posted strong quarterly results and issued a rosy outlook amid robust demand for its custom AI chips. The stock broke out from an ascending triangle on above-average volume Monday, a bullish chart pattern that indicates a continuation of the uptrend.A bars pattern, which takes the price bars from the stock’s trending move between October and November and repositions them from the ascending triangle’s lower tr ...

More than 15 years of professional investment experience in global equities across all sectors. My investment style is fundamental, bottom-up, long-term, and quality growth-oriented. I am seeking companies specializing in niche markets, with strong growth potential, a solid management team, a sound capital allocation policy, and, most importantly, reasonable valuation. I do not chase quarterly results, nor do I follow the herd mentality. I do not use short-term stock performance as the measure of a company' ...