Marvell Technology, a leading supplier of data infrastructure semiconductor solutions, reported a net revenue of $1.3 billion for the second quarter of fiscal 2025, marking a 5% decrease from the same period in the previous year. This decline was attributed to reduced sales across most end markets, with significant drops in the carrier infrastructure, enterprise networking, consumer, and automotive/industrial sectors. However, this was partially offset by a 92% surge in data center sales, driven by strong demand for electro-optics products and initial shipments of custom AI compute products. Despite the overall revenue decline, the company's gross profit improved by 12.8% year-on-year for the quarter, due to a favorable shift in product mix and resolution of prior product-related claim matters...Show More

Marvell Technology, a leading supplier of data infrastructure semiconductor solutions, reported a net revenue of $1.3 billion for the second quarter of fiscal 2025, marking a 5% decrease from the same period in the previous year. This decline was attributed to reduced sales across most end markets, with significant drops in the carrier infrastructure, enterprise networking, consumer, and automotive/industrial sectors. However, this was partially offset by a 92% surge in data center sales, driven by strong demand for electro-optics products and initial shipments of custom AI compute products. Despite the overall revenue decline, the company's gross profit improved by 12.8% year-on-year for the quarter, due to a favorable shift in product mix and resolution of prior product-related claim matters. Operating expenses saw a slight increase in research and development costs, while selling, general, and administrative expenses decreased due to lower acquisition-related costs. Marvell Technology also continued its stock repurchase program, buying back 4.7 million shares for $325.0 million in the first half of fiscal 2025, with $3.0 billion still available for future repurchases. The company's cash and cash equivalents stood at $808.7 million as of August 3, 2024, a decrease from the February 3, 2024 balance of $950.8 million. Looking ahead, Marvell Technology anticipates continued impact from U.S. government export restrictions on certain Chinese customers but remains committed to delivering shareholder value through stock repurchases and dividends.