NASDAQ$MRVL
Marvell Technology Group Ltd · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Marvell's Q2 2023 revenue reached a record $1.52 billion, marking the 9th consecutive quarter of sequential growth.
Marvell Technology, Inc. reported financial results for the second quarter of fiscal year 2023, with net revenue of $1.517 billion, a 41% year-over-year increase. GAAP net income was $4 million, or $0.01 per diluted share, while non-GAAP net income was $486 million, or $0.57 per diluted share.
- Q2 net revenue was $1.517 billion, a 41% increase year-over-year.
- GAAP gross margin was 51.8%, and non-GAAP gross margin was 65.0%.
- GAAP diluted income per share was $0.01, and non-GAAP diluted income per share was $0.57.
- Company expects sequential revenue growth to accelerate in the fourth quarter as supply constraints begin to ease.
Headline financials
Revenue & EPS history
Marvell · Revenue · Quarterly
$1.52B
Revenue by segment
Marvell · $2.22B total across 2 segments · Q4 2026
- Data center$1.65B—74.4%
- Communications and other$567M—25.6%
Forward guidance
Marvell expects for the third quarter of fiscal year 2023, net revenue to be $1.560 billion +/- 3%, GAAP gross margin is expected to be 51.1% +/- 1.1%, and non-GAAP gross margin is expected to be 65.0% +/- 0.25%.
Tailwinds
- Net revenue is expected to be $1.560 billion +/- 3%.
- GAAP gross margin is expected to be 51.1% +/- 1.1%.
- Non-GAAP gross margin is expected to be 65.0% +/- 0.25%.
- GAAP diluted income per share is expected to be $0.09 +/- $0.04 per share.
- Non-GAAP diluted income per share is expected to be $0.59 +/- $0.03 per share.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
+0.5%
Avg return
Earnings day
-0.0%
Avg return
5 days after
+1.9%
Avg return
30 days after
52%
34 / 65 earnings
Positive
+42.5%
Q1 2024
Best reaction
-19.8%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | +0.0% | -2.1% | +22.3% | |
| Q3 2026 | +2.6% | -1.0% | -3.8% | |
| Q2 2026 | -18.7% | -19.3% | +7.7% | |
| Q1 2026 | -5.6% | +4.0% | +21.1% | |
| Q4 2025 | -19.8% | -25.5% | -45.2% | |
| Q3 2025 | +22.0% | +17.2% | +17.2% | |
| Q2 2025 | +11.4% | +2.3% | +3.7% | |
| Q1 2025 | -9.2% | -12.4% | -7.8% | |
| Q4 2024 | -7.3% | -11.8% | -10.7% | |
| Q3 2024 | -5.9% | -9.6% | +7.5% | |
| Q2 2024 | -13.0% | -8.7% | -15.0% | |
| Q1 2024 | +42.5% | +37.9% | +25.8% | |
| Q4 2023 | -2.9% | -9.4% | -4.5% | |
| Q3 2023 | -3.9% | -11.7% | -20.4% | |
| Q2 2023 | -4.0% | -8.1% | -17.1% | |
| Q1 2023 | +12.7% | +9.6% | -10.6% | |
| Q4 2022 | -6.3% | -4.7% | +5.0% | |
| Q3 2022 | +17.8% | +29.0% | +23.3% | |
| Q2 2022 | -2.9% | -3.2% | +0.6% | |
| Q1 2022 | +4.2% | +7.0% | +16.4% | |
| Q4 2021 | -16.2% | -16.2% | +3.8% | |
| Q3 2021 | -4.9% | -4.3% | +4.2% | |
| Q2 2021 | +7.4% | +10.1% | +6.9% | |
| Q1 2021 | +6.3% | +12.7% | +8.2% | |
| Q4 2020 | +17.0% | +4.3% | +5.3% | |
| Q3 2020 | -7.3% | -6.4% | +6.1% | |
| Q2 2020 | +1.7% | -1.2% | +5.0% | |
| Q1 2020 | +1.3% | +6.4% | +8.4% | |
| Q4 2019 | -4.7% | +1.0% | +8.7% | |
| Q3 2019 | -1.8% | -5.7% | -3.7% | |
| Q2 2019 | -5.0% | -8.2% | -9.2% | |
| Q1 2019 | +0.8% | +0.2% | -2.5% | |
| Q4 2018 | +2.7% | -3.2% | -13.4% | |
| Q3 2018 | -5.0% | -5.1% | -6.4% | |
| Q2 2018 | +7.3% | +8.6% | +12.5% | |
| Q1 2018 | +5.3% | +3.5% | +5.3% | |
| Q4 2017 | +1.0% | +0.1% | -4.2% | |
| Q3 2017 | +10.2% | +10.3% | +6.6% | |
| Q2 2017 | -2.9% | -5.4% | +1.3% | |
| Q1 2017 | +2.1% | +1.8% | +5.4% | |
| Q4 2016 | +11.5% | +16.2% | +15.6% | |
| Q3 2016 | -8.9% | — | — | |
| Q2 2016 | -18.3% | — | — | |
| Q1 2016 | -7.1% | — | — | |
| Q4 2015 | +0.4% | — | — | |
| Q3 2015 | +4.6% | — | — | |
| Q2 2015 | +2.4% | — | — | |
| Q1 2015 | +2.9% | — | — | |
| Q4 2014 | -1.1% | — | — | |
| Q3 2014 | +9.6% | — | — | |
| Q2 2014 | -6.6% | — | — | |
| Q1 2014 | -0.2% | — | — | |
| Q4 2013 | +7.0% | — | — | |
| Q3 2013 | +4.3% | — | — | |
| Q2 2013 | -1.7% | — | — | |
| Q1 2013 | +0.7% | — | — | |
| Q4 2012 | +1.3% | — | — | |
| Q3 2012 | -4.0% | — | — | |
| Q2 2012 | +0.3% | — | — | |
| Q1 2012 | -0.9% | — | — | |
| Q4 2011 | +2.1% | — | — | |
| Q3 2010 | +1.2% | — | — | |
| Q2 2010 | +2.4% | — | — | |
| Q1 2010 | -4.7% | — | — | |
| Q4 2009 | +6.4% | — | — |
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