Marvell Technology (NASDAQ:MRVL) Q4 Sales Beat Estimates But Stock Drops 13.3%

Networking chips designer Marvell Technology (NASDAQ: MRVL) announced better-than-expected revenue in Q4 CY2024, with sales up 27.4% year on year to $1.82 billion. The company expects next quarter’s revenue to be around $1.88 billion, close to analysts’ estimates. Its non-GAAP profit of $0.60 per share was in line with analysts’ consensus estimates.