Marvell Technology Inc (NASDAQ: MRVL) is emerging as a major player in the artificial intelligence sector, according to Ivana Delevska, founder and chief investment officer of Spear Invest. With shares of the semiconductor giant surging over 30% this month, Delevska remains highly optimistic about MRVL's potential as AI drives unprecedented growth in networking.
Marvell Technology Inc MRVL shares climbed in early trading on Friday, after the company reported upbeat second-quarter sales.
Marvell Technology (MRVL) shares surged nearly 5% in early trading Friday after the maker of networking circuits posted better-than-expected quarterly sales, driven by demand for equipment to support artificial intelligence (AI).
MRVL's fiscal second-quarter results show the benefits of strong growth in the data center segment, partially offset by a decline in other segments.
Shares of Dell Technologies Inc (NYSE:DELL) and Marvell Technology Inc (NASDAQ:MRVL) are moving higher following their respective earnings reports.
Q2 FY2025 net revenue was $1.27 billion, in line with management's guidance. Data center segment revenue surged 92% year over year to $880.9 million.
Marvell Technology, Inc. (NASDAQ:MRVL ) Q2 2025 Earnings Call Transcript August 29, 2024 4:45 PM ET Company Participants Ashish Saran - SVP of IR Matt Murphy - Chairman and CEO Willem Meintjes - CFO Conference Call Participants Tore Svanberg - Stifel Toshiya Hari - Goldman Sachs Timothy Arcuri - UBS Ross Seymore - Deutsche Bank Vivek Arya - Bank of America Matt Ramsay - TD Cowen Christopher Rolland - Susquehanna Harlan Sur - JPMorgan Aaron Rakers - Wells Fargo Srinivas Pajjuri - Raymond James Quinn Bolton - Needham Harsh Kumar - Piper Sandler Karl Ackerman - BNP Paribas Operator Good afternoon and welcome to Marvell Technology, Inc.'s Second Quarter of Fiscal Year 2025 Earnings Conference Call. All participants will be in listen-only mode.
The headline numbers for Marvell (MRVL) give insight into how the company performed in the quarter ended July 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Marvell Technology (MRVL) came out with quarterly earnings of $0.30 per share, beating the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.33 per share a year ago.
Chipmaker Marvell Technology surpassed expectations for quarterly revenue and forecast third-quarter results above Wall Street estimates on Thursday, on the back of strong demand for its electro-optics products and an increase in custom AI programs.
UPDATE—Aug. 29, 2024: This article has been updated to reflect more recent share price information.
Marvell Technology, Inc. MRVL is expected to release earnings results for its second quarter, after the closing bell on Thursday, Aug. 29.