Summary by Moomoo AI
Marvell Technology, a leading semiconductor company, reported a net revenue of $1.2 billion for the first quarter of fiscal 2025, marking a 12% decrease from the $1.3 billion reported in the same quarter of the previous year. The decline was attributed to reduced sales across most end markets, with significant drops in the carrier infrastructure (75%), enterprise networking (58%), consumer (70%), and automotive/industrial (13%) sectors. However, this was partially offset by an 87% increase in sales from the data center end market, driven by strong demand for electro-optics products used in AI applications. The company also initiated shipments of custom AI compute products. Despite the overall revenue decline, gross profit margin improved by 3.3 percentage points year-on-year due to a favorable shift in product mix. Operating...Show More