Marvell announces earnings report, shares surge to new high

Marvell, an American chip design company, recently announced its financial report for the third quarter of fiscal year 2025 (ending November 2, 2024). Marvell's revenue for the quarter was US$1.5161 billion, a year-on-year increase of 6.9% and a month-on-month increase of 19.1%. In terms of the performance of each department, Marvell's data center-related business revenue in the third quarter increased by 98% year-on-year and 25% month-on-month to US$1.1011 billion, and the revenue of the enterprise network market-related business fell by 44.3% year-on-year to US$150.9 million, and the revenue related to telecom infrastructure fell by 73% year-on-year and increased by 12% month-on-month to US$84.7 million. As the performance exceeded expectations, Marvell's stock price rose by 23.19% after the opening of the US stock market.