Marvell Reports Third Quarter Fiscal 2023 Financial Results

Marvell Technology announced its financial results for the third quarter of fiscal year 2023. Net revenue for the quarter was $1.537 billion, up 27% year-over-year. GAAP gross margin was 50.6% and non-GAAP gross margin was 64.0%. GAAP diluted earnings per share were $0.02 and non-GAAP diluted earnings per share were $0.57.