Marvell Technology
Q4 2023 Earnings Call
Mar 02, 2023, 4:45 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good afternoon, and welcome to Marvell Technology's fourth quarter and fiscal year 2023 earnings conference call. [Operator instructions] After today's presentation, there will be an opportunity to ask questions. And please note that this event is being recorded today. I would now like to turn the conference over to Mr.
Ashish Saran, senior vice president of investor relations. Please, go ahead, sir.
Ashish Saran -- Senior Vice President, Investor Relations
Thank you, and good afternoon, everyone. Welcome to Marvell's fourth quarter and fiscal year 2023 earnings call. Joining me today are Matt Murphy, Marvell's president and CEO; and Willem Meintjes, our new CFO. Let me remind everyone that certain comments made today include forward-looking statements, which are subject to significant risks and uncertainties that could cause our actual results to differ materially from management's current expectations.
Please review the cautionary statements and risk factors contained in our earnings press release, which we filed with the SEC today and posted on our website, as well as our most recent 10-K and 10-Q filings. We do not intend to update our forward-looking statements. During our call today, we will refer to certain non-GAAP financial measures. A reconciliation between our GAAP and non-GAAP financial measure is available in the investor relations section of our website.
With that, I'll turn the call over to Matt for his comments on our performance. Matt?
Matt Murphy -- President and Chief Executive Officer
Thanks, Ashish, and good afternoon, everyone. Let me start by welcoming Willem, who is participating today in his first Marvell earnings call since being named CFO in January. Having previously served as Marvell's chief accounting officer and treasurer since 2018, Willem has deep institutional knowledge of our company and our end markets, which has helped him seamlessly transition into his new role. I look forward to partnering with him, as we continue to execute on the many opportunities in front of us.
Turning to our business results for the fourth quarter of fiscal 2023. Revenue was $1.42 billion, growing 6% year over year, above the midpoint of guidance, with better-than-expected results from our data center end market. Sequentially, as our customers dealt with a broad-based inventory correction, revenue declined by 8%, with the majority of the reduction coming from storage products within our data center end market. The rest of our end markets held up relatively well in a worsening macroeconomic environment.