Marvell: Fiscal 4Q23 Financial Results
Storage responsible for bulk of overall sequential decline in data center revenue
By Jean Jacques Maleval | March 8, 2023 at 2:02 pm| (in $ million) | 4Q22 | 4Q23 | FY22 | FY23 |
| Revenue | 1,343 | 1,418 | 4,462 | 5,920 |
| Growth | 6% | 33% | ||
| Net income (loss) | 6.2 | (15.4) | (421.0) | (163.5) |
Marvell Technology, Inc. reports fourth quarter and FY23 financial results for the period ending January 28, 2023.
The company does not reveal its sales for storage (FC, HDD, SSD controller, storage accelerators) but did some comments on the subject.
As customers dealt with a broad-based inventory correction, revenue declined by 8%, with the majority of the reduction coming from storage products within firm’s data center end market.
The company projects data center storage to decline again sequentially in 1FQ24 across HDD, SSD and FC and also expects to see inventory adjustments to a lesser degree, broadly impact the rest of its data center products.
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