Reports Q3 revenue $1.42B, consensus $1.4B. “Marvell delivered third quarter fiscal 2024 revenue of $1.419B, growing 6% sequentially, above the midpoint of guidance. Revenue from our datacenter end market grew over 20% sequentially in the third quarter, and we expect growth of over 30% sequentially in our fourth quarter,” said Matt Murphy, CEO. “The diversification of our portfolio is serving us well, with strong growth from AI and cloud carrying us through a softening demand environment in other end markets. These dynamics are reflected in our forecast for overall revenue to be flat sequentially in the fourth quarter at the midpoint of guidance.”
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