Meridian Semiconductor — Q3 Earnings Release
Highlights
Record quarterly revenue of $14.2 billion, up 38% year over year and 9% sequentially. Data Center revenue of $11.1 billion, up 52% year over year. GAAP gross margin of 68.9%, down 120 basis points sequentially.
Outlook
For the fourth quarter, revenue is expected to be $15.0 billion, plus or minus 2%. Gross margin is expected to be 67.5% to 68.5%, reflecting the ramp of our next-generation platform.
CEO commentary
"Demand continues to exceed supply across our data-center portfolio. Customers are expanding deployments from training into inference, and we are adding manufacturing capacity to support the transition."
Capital return
Returned $3.4 billion to shareholders through repurchases and dividends. The Board approved an additional $25 billion share repurchase authorization.
Forward-looking statements
Results may differ materially due to supply constraints, customer concentration, export regulations, competitive developments and macroeconomic conditions…