Marvell Technology (MRVL) Revenue — Quarter Ended Oct 28, 2023
Revenue for the quarter increased compared to the immediately preceding period, reversing a trend of sequential declines. However, revenue remained below the level reported for the same quarter one year earlier.
Key takeaway
Quarter ended Oct 28, 2023 · FY2024 Q3
Revenue for the quarter increased compared to the immediately preceding period, reversing a trend of sequential declines. However, revenue remained below the level reported for the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.4B
Revenue reported for this quarter.
Quarter-over-quarter
+5.8%
Change from the immediately preceding quarter.
Year-over-year
-7.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$5.5B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jan 28, 2023 | $1.4B | +5.6% |
| Apr 29, 2023 | $1.3B | -8.7% |
| Jul 29, 2023 | $1.3B | -11.6% |
| Oct 28, 2023 | $1.4B | -7.7% |
Revenue performance
The reported revenue rose from the prior quarter, but decreased relative to the same quarter a year ago. This reflects a mixed performance with sequential improvement yet year-over-year contraction.
Quarterly comparison
Compared with the immediately preceding quarter, revenue was higher, marking a sequential increase. Relative to the same quarter one year earlier, revenue was lower, continuing a year-over-year decline.
What to watch
The sequential revenue improvement follows multiple quarters of decline; whether this uptick can be sustained will be important to monitor.