By Sabela Ojea

Marvell Technology reported a jump in revenue in its fiscal fourth quarter and provided an outlook for the first quarter that disappointed investors.

Shares fall 17%, to $74.98, in post-market trading. Through Wednesday's close, shares are up 10% over the past 12 months.

The Santa Clara, Calif., chipmaker posted a net profit for the three months ended Feb. 1 of $200.2 million, or 23 cents a share, compared with a loss of $676.3 million, or 78 cents a share, for the same period a year earlier.

Stripping out one-time items, the company's earnings per share came in at 60 cents. Analysts polled by FactSet had forecast adjusted earnings of 59 cents a share.

Revenue rose 20%, to $1.82 billion, beating the $1.80 billion expected by Wall Street.

Marvell had most recently guided for quarterly revenue of $1.8 billion, plus or minus 5%, with earnings per share of 11 cents to 21 cents and adjusted earnings per share of 54 cents to 64 cents, plus or minus 5 cents per share.

For the first quarter, the company expects revenue of $1.88 billion, plus or minus 5%, representing growth of over 60% at the mid-point of its guidance. It also expects earnings and adjusted per share earnings of 19 cents and 61 cents, respectively, plus or minus 5 cents per share.

"We are well positioned for a strong start to fiscal 2026," Chief Executive Matt Murphy said, adding that the company also projects "strong revenue growth for the full fiscal year."

Wall Street forecasts first-quarter revenue of $1.87 billion, earnings of 15 cents a share, and adjusted earnings of 60 cents.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

March 05, 2025 16:36 ET (21:36 GMT)

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