Marvell Technology (MRVL) is tumbling 17% after the chip maker reported mixed fiscal fourth-quarter results and provided Q1 revenue guidance that was roughly in-line with analysts’ average estimate.
The Highlights of MRVL’s Q4 Results and Q1 Guidance
For Marvell’s fiscal Q4 that ended on Feb. 1, the firm’s revenue jumped 27% versus the same period a year earlier to $1.82 billion, approximately in-line with analysts’ average estimate of $1.8 billion. The company generated earnings per share, excluding certain items, of 60 cents, compared with the mean outlook of 59 cents.
Also noteworthy is that MRVL’s revenue from consumer-product makers tumbled 39% year-over-year to $88.7 million, while its carrier infrastructure sales also sank 38% YOY to $105.8 million.
For Q1, Marvell expects its revenue to come in at $1.875B, plus or minus 5%. The midpoint of the range was about in-line with the mean estimate heading into the print of $1.869 billion.
Marvell’s Comments
CEO Matt Murphy stated that MRVL’s “Q4 performance was driven by strong growth in our data center end market, where revenue increased 78% year-over-year in the fourth quarter, along with a continued recovery in our multi-market businesses.”
The CEO added that “Marvell has secured multiple new design wins, including several custom silicon programs that will fuel future growth. We are well positioned for a strong start to fiscal 2026.”
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Disclosure: None. This article is originally published at Insider Monkey.