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Marvell Technology Newsroom
Marvell's Earnings Surprise Street as AI Boosts Chip Sales
AI demand is strong, and chip company Marvell's sales surged by 19% month-on-month, greatly exceeding expectations.
Strong AI demand, Marvell's performance in the third quarter and outlook for the fourth quarter both exceeded expectations. On December 3, Eastern Time, chip company Marvell Technology (MRVL) announced its third-quarter financial report showing that the company's third-quarter sales increased by 19% month-on-month, reaching 1.52 billion USD, exceeding Wall Street's forecast of 1.46 billion USD; eps was 43 cents, higher than the expected 41 cents. Marvell also predicts that fourth-quarter revenue will reach about 1.8 billion USD, exceeding the expected 1.65 billion USD, with an expected eps of 59 cents.
Marvell Technology (MRVL.US) Q3 financial report is impressive! Datacenter business surges, with broad prospects for collaboration in the AI field.
marvell technology recently released its third-quarter financial report, with performance exceeding market expectations, and issued optimistic profit forecasts.
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The Nasdaq index reached a new high, French stocks rose, the south korea etf narrowed after a 7% drop, and the offshore yuan briefly fell below 7.31 yuan.
South Korean President Yoon Suk-yeol abruptly declared a state of emergency, boosting safe-haven assets such as U.S. Treasury bonds, Japanese yen, and gold, while cryptos on the South Korean exchange plunged. The South Korean parliament quickly passed a resolution to lift the state of emergency, with the Ministry of Finance and the central bank actively working on market rescue measures. After a 2.7% drop to a two-year low, the won’s decline was cut in half, South Korean etfs fell by 1.6%, and the yield on 10-year U.S. Treasury bonds turned to increase after hitting a new low in over a month. France is set to vote on dissolving the government as early as Wednesday, with French stocks following European markets upward, although they had previously declined during the day. The Dow Jones, small cap stocks, and semiconductor indices fell, while the China concept index once rose by 1.9%. The yuan hit a new low in a year during the day, and U.S. oil rose nearly 3% testing the $70 mark.
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On Tuesday, Nvidia topped the list of US stock trading volumes, closing up 1.18% with a turnover of $22.403 billion. Nvidia's chief financial officer stated on Tuesday that acquisitions may be a possible use of the company's growing money market. According to reports, Nvidia is set to launch its highly anticipated next-generation "Blackwell Ultra" GB300 AI server in mid-2025, which far exceeds existing products in performance. Previously, Nvidia's Blackwell architecture has garnered widespread market attention and has been favored by many technology giants, bringing substantial revenue to Nvidia.
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