Marvell Technology Inc. reported a 1% Q4 net revenue increase to $1.427bn, but faced a GAAP net loss of $392.7m.

Marvell Technology Inc. reported a 1% year-on-year increase in Q4 net revenue, reaching $1.427 billion. However, the company faced a GAAP net loss of $392.7 million, translating to a $0.45 loss per diluted share. Non-GAAP figures were more positive, with a net income of $401.6 million, or $0.46 per diluted income per share. The company's non-GAAP gross margin of 63.9% and strong operational cash flow of $546.6 million demonstrate Marvell's capacity to maintain profitability in its core operations and generate liquidity from its business activities.

March 07, 2024
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