Marvell reports in-line guidance as Q4 results top estimates
Investing.com -- Marvell reported Wednesday better-than-expected fourth quarter results, and in-line guidance for the current quarter, underpinned by growth in the custom chipmaker's datacenter business.
Marvell Technology Inc (NASDAQ:MRVL) fell more than 13% in after-hours trade following the report.
Marvell announced earnings per share of $0.60 on revenue of $1.82B. Analysts polled by Investing.com anticipated EPS of $0.59 on revenue of $1.8B.
Non-gaap gross margin was 60% in Q4 at time when the company ramped up custom AI chip production.
Data center revenue jumped 78% to $1.37B in Q4 from the same period a year earlier.
Looking ahead to Q1, EPS was guided in a range of $0.56 to $0.66 on revenue of $1.875B, give or take 5%. That compared with estimates for EPS of $0.6 on revenue of $1.87B.
"Our custom AI silicon programs have now entered volume production, and we continue to see strong growth from our interconnect products," the company said.
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