Companies /Technology

Marvell Technology Inc

NASDAQ: MRVL Semiconductors
$223.55
▲ $14.72 (+7.05%) today
Markets closed · 9:22am ET

Q3 2026 Earnings

Reported Dec 2, 2025, 4:11pm ET · SEC source
$0.76
Beat +3.01%
EPS · est. $0.74
$2.1B
Beat +0.44%
Revenue · est. $2.1B
−13.1%
Trailing market
MRVL vs S&P since report
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+8%+16%+24%Dec 2Dec 3report 4:11pm ETearnings+0.3%+14.4%
0+8%+16%+24%Dec 2Dec 3earnings+0.3%+14.4%
MRVL +14.4%S&P 500 +0.3%
0+7%+14%+21%Dec 2Dec 3report 4:11pm ETearnings+0.2%+14.4%
0+7%+14%+21%Dec 2Dec 3earnings+0.2%+14.4%
MRVL +14.4%NASDAQ +0.2%
−10%−5%0+5%Dec 1Dec 10report 4:11pm ETearnings+0.8%−6.2%
−10%−5%0+5%Dec 1Dec 10earnings+0.8%−6.2%
MRVL −6.2%S&P 500 +0.8%
−10%−5%0+5%Dec 1Dec 10report 4:11pm ETearnings+0.7%−6.2%
−10%−5%0+5%Dec 1Dec 10earnings+0.7%−6.2%
MRVL −6.2%NASDAQ +0.7%
+7.87%
Day of report
−2.01%
Next session
−7.71%
One week
−11.95%
30 days

S&P 500 over the same 30 days: +1.16%.

Did MRVL Beat Earnings? Q3 2026 Results

Marvell Technology delivered a record quarter for the <a href="https://247wallst.com/investing/2025/12/02/live-marvell-technology-mrvl-q3-earnings-coverage/">fiscal third quarter of 2026</a>, posting revenue of $2.07 billion — up 37% year over year — and non-GAAP EPS of $0.76, compared to $0.43 in the prior-year period, as relentless AI infrastructure spending drove data center revenue to $1.52 billion, representing 73% of total sales. The company also completed the $2.50 billion sale of its automotive ethernet business to Infineon Technologies in August, which generated a pre-tax gain of $1.80 billion and pushed GAAP net income to $1.90 billion for the quarter. Beyond data center strength, carrier infrastructure surged 98% year over year to $167.80 million and enterprise networking climbed 57% to $237.20 million, pointing to a broader networking recovery. CEO Matt Murphy also announced the acquisition of Celestial AI to accelerate optical interconnect capabilities for AI datacenters, calling it transformational. Looking ahead, Marvell guided Q4 revenue of $2.20 billion and non-GAAP EPS of $0.79, with full-year fiscal 2026 revenue growth expected to exceed 40%.

Key Takeaways
  • Strong demand for data center products, particularly AI-related semiconductor solutions
  • Data center revenue grew 38% YoY, representing 73% of total revenue
  • Enterprise networking grew 57% YoY driven by recovery in campus and SME switching
  • Carrier infrastructure grew 98% YoY
  • Completion of automotive ethernet business sale to Infineon for $2.5 billion generated $1.8 billion pre-tax gain

“Marvell delivered record third-quarter revenue of $2.075 billion, exceeding the midpoint of guidance, driven by strong demand for our data center products. We are guiding for robust growth in the fourth quarter and are on track for a strong finish to the fiscal year, with full-year revenue growth forecasted to exceed 40%. Looking ahead, we see demand for our products continuing to accelerate, and as a result, our data center revenue growth forecast for next year is now higher than prior expectations.”

Marvell Technology CEO, on the earnings call

Forward Guidance & Outlook

For Q4 fiscal 2026, Marvell expects net revenue of $2.200 billion +/- 5%, non-GAAP gross margin of 58.5%-59.5%, non-GAAP operating expenses of approximately $515 million, and non-GAAP diluted EPS of $0.79 +/- $0.05. GAAP diluted EPS is expected to be $0.36 +/- $0.05. Full-year fiscal 2026 revenue growth is forecasted to exceed 40%. Management indicated that data center revenue growth expectations for next fiscal year are now higher than prior expectations, driven by accelerating demand for AI infrastructure products.

MRVL YoY Financials

Revenue$2.1B
Gross Profit$1.1B
Operating Income$357.8M
Net Income$1.9B

MRVL Revenue by Segment

Data Center$1.5B+38.0%
Communications and other
Enterprise Networking$237.2M+57.0%
Carrier Infrastructure$167.8M+98.0%
Consumer$116.6M+21.0%
Automotive/Industrial$35.0M−58.0%

Figures from SEC filings and company reports. Not investment advice.