Marvell Technology reported Q2 fiscal 2025 revenue of $1.27 billion, down 5% year-over-year, with a net loss of $193.3 million or $0.22 per share. Data center revenue surged 92% to $880.9 million, driven by strong demand for electro-optics products from AI applications and initial shipments of custom AI compute products. However, other segments saw significant declines, with carrier infrastructure down 72%, enterprise networking down 54%, and consumer down 47%.Gross margin improved to 46.2% from 38.9% year-over-year, reflecting favorable product mix and resolution of prior year product-related claims. Operating expenses totaled $688 million, with R&D spending of $486.7 million. The company maintained strong liquidity with $808.7 million in cash and cash equivalents, while generating operating cash flow of $630.9 million in the first half.Looking ahead, Marvell continues to see stabilizing demand in enterprise networking and carrier infrastructure markets following inventory corrections. The company returned $428.7 million to shareholders in the first half through $325 million in share repurchases and $103.7 million in dividends. Management highlighted ongoing momentum in AI-related products while noting continued low demand from OEM customers in China.

Marvell Technology reported Q2 fiscal 2025 revenue of $1.27 billion, down 5% year-over-year, with a net loss of $193.3 million or $0.22 per share. Data center revenue surged 92% to $880.9 million, driven by strong demand for electro-optics products from AI applications and initial shipments of custom AI compute products. However, other segments saw significant declines, with carrier infrastructure down 72%, enterprise networking down 54%, and consumer down 47%.Gross margin improved to 46.2% from 38.9% year-over-year, reflecting favorable product mix and resolution of prior year product-related claims. Operating expenses totaled $688 million, with R&D spending of $486.7 million. The company maintained strong liquidity with $808.7 million in cash and cash equivalents, while generating operating cash flow of $630.9 million in the first half.Looking ahead, Marvell continues to see stabilizing demand in enterprise networking and carrier infrastructure markets following inventory corrections. The company returned $428.7 million to shareholders in the first half through $325 million in share repurchases and $103.7 million in dividends. Management highlighted ongoing momentum in AI-related products while noting continued low demand from OEM customers in China.