Marvell beats by $0.02, reports revs in-line; guides Q4 EPS in-line, revs in-line; to acquire Celestial AI
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Reports Q3 (Oct) earnings of $0.76 per share, excluding non-recurring items, $0.02 better than the FactSet Consensus of $0.74; revenues rose 36.8% year/year to $2.07 bln vs the $2.07 bln FactSet Consensus.Data Center segment revenue grew +38% yr/yr to $1.52 bln vs prior guidance of up mid-30% range yr/yr.Co issues in-line guidance for Q4 (Jan), sees EPS of $0.74-0.84, excluding non-recurring items, vs. $0.79 FactSet Consensus; sees Q4 revs of $2.09-2.31 bln vs. $2.18 bln FactSet Consensus."Marvell delivered record third-quarter revenue of $2.075 billion, exceeding the midpoint of guidance, driven by strong demand for our data center products. We are guiding for robust growth in the fourth quarter and are on track for a strong finish to the fiscal year, with full-year revenue growth forecasted to exceed 40%. Looking ahead, we see demand for our products continuing to accelerate, and as a result, our data center revenue growth forecast for next year is now higher than prior expectations."Co also to acquire Celestial AI, a pioneer of a disruptive Photonic Fabric technology platform purpose-built for scale-up optical interconnect. Co says this acquisition represents a transformational milestone in accelerating the co's connectivity strategy for next-generation AI and cloud data centers. |
