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Marvell Technology (MRVL) reported record Q3 sales of $2.07 billion on Tuesday, exceeding estimates of $2.06 billion and up 37% from $1.51 billion year-over-year. The company’s Q3 EPS of $0.76 also surpassed expectations of $0.75, marking a 77% increase from $0.43 a year ago.
In addition to its strong earnings report, Marvell announced the acquisition of semiconductor startup Celestial AI, valued at $3.25 billion, potentially rising to $5.5 billion based on revenue milestones. This acquisition aims to enhance Marvell’s competitive position in next-gen AI infrastructure.
Marvell has guided for Q4 sales around $2.2 billion ±5%, with analysts estimating a growth rate of 18%. The company projects full-year revenue growth exceeding 40%, with anticipated data center revenue growth driven by increasing AI demand.
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