Marvell Technology Inc ( MRVL ) reported fourth-quarter financial results Thursday after the close. Here’s a look at the key metrics from the quarter.

Q4 Earnings: Marvell ( MRVL ) said fourth-quarter revenue increased 1% year-over-year to $1.427 billion, which beat the consensus estimate of $1.42 billion. The chip designer reported quarterly earnings of 46 cents per share, which was in line with analyst estimates.

Marvell ( MRVL ) has now met or exceeded analyst estimates on the top and bottom line in four straight quarters, per Benzinga Pro.

“AI drove strong growth in our data center end market revenue which increased 38% sequentially and 54% year-over-year. As a critical enabler of accelerated infrastructure for AI, Marvell ( MRVL ) is well positioned to capitalize on this massive technology inflection, which continues to gain momentum,” said Matt Murphy, chairman and CEO of Marvell ( MRVL ).

Outlook: Marvell ( MRVL ) sees first-quarter revenue of $1.15 billion, plus or minus 5%, versus estimates of $1.371 billion. The company sees first-quarter adjusted earnings of 23 cents per share, plus or minus 5 cents per share, versus estimates of 40 cents per share.

“While we are forecasting soft demand impacting consumer, carrier infrastructure, and enterprise networking in the near term, we expect revenue declines in these end markets to be behind us after the first quarter, and project a recovery in the second half of the fiscal year,” Murphy said.

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Marvell’s board also approved an additional $3 billion share repurchase program, increasing its existing buyback authorization to approximately $3.3 billion.

Additionally, Marvell ( MRVL ) announced that it will host its Accelerated Infrastructure for the AI Era event on April 11. Management will hold a conference call to discuss its quarterly results at 4:45 p.m. ET.

MRVL Price Action: Marvell ( MRVL ) shares were up approximately 38% year-to-date heading into the print. The stock was down 12% after hours at $74.88 at the time of publication, according to Benzinga Pro.