MARVELL TECHNOLOGY Reports 8.7% Year-over-Year Revenue Decline at End of FY2024 Q1

🌥️Earnings Overview

MARVELL TECHNOLOGY ($NASDAQ:MRVL) had total revenue of USD 1321.7 million for the quarter ending April 30, 2023, a decrease of 8.7% compared to the same period in the prior year. The company reported net income of USD -168.9 million, a slight decrease from the -165.7 million reported in the same period last year.

Analysis

GoodWhale has conducted financial analysis of MARVELL TECHNOLOGY‘s financials, and the findings indicate that the company is a high risk investment. This assessment is based on a Risk Rating system, which takes into account a variety of financial and business aspects. GoodWhale has detected 3 risk warnings in the company’s income sheet, balance sheet, and non-financial information. To get an in-depth look at these risk warnings, potential investors should become a registered user and view all the available data. This will ensure that their investment decision is made with the fullest knowledge of the available facts. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Marvell Technology. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Marvell Technology. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Marvell Technology. More…

Key Ratios Snapshot

Some of the financial key ratios for Marvell Technology are shown below. More…

Peers

Marvell Technology Inc is a fabless semiconductor company that designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. Its main competitors are Advanced Micro Devices Inc, GLOBALFOUNDRIES Inc, and Intel Corp.

– Advanced Micro Devices Inc ($NASDAQ:AMD)

Advanced Micro Devices Inc is a technology company that designs and produces semiconductor products. The company has a market capitalization of 92.39 billion as of 2022 and a return on equity of 4.13%. The company’s products are used in a variety of electronic devices, including personal computers, game consoles, and servers.

– GLOBALFOUNDRIES Inc ($NASDAQ:GFS)

GLOBALFOUNDRIES Inc is a leading provider of semiconductor manufacturing services. The company has a market cap of 28.43B as of 2022 and a Return on Equity of 5.09%. The company offers a wide range of services, including manufacturing, design, and testing. GLOBALFOUNDRIES is a trusted partner for many of the world’s leading companies.

– Intel Corp ($NASDAQ:INTC)

Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, in the Silicon Valley. It is the world’s largest and highest valued semiconductor chip manufacturer based on revenue, and is the inventor of the x86 series of microprocessors, the processors found in most personal computers (PCs). Intel supplies processors for computer system manufacturers such as Apple, Lenovo, HP, and Dell. Intel also manufactures motherboard chipsets, network interface controllers and integrated circuits, flash memory, graphics chips, embedded processors and other devices related to communications and computing.

Summary

Marvell Technology‘s end of the first quarter of fiscal year 2024 reported a total revenue of USD 1321.7 million, a decrease of 8.7% year over year. The company’s net income for the quarter was USD -168.9 million, a slight decrease from the prior year. Despite the decrease in revenue and net income, the stock price of Marvell Technology increased on the news. Investors should take note of this positive reaction by monitoring Marvell’s performance in the coming quarters.

They should watch for signs of improving profitability as well as any other indicators of a strong fundamental outlook. With an 8.7% decline in revenue, investors should be aware of potential risks associated with investing in Marvell Technology.