Companies /Technology

Marvell Technology Inc

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

Q4 2026 Earnings

Reported Mar 5, 2026, 4:06pm ET · SEC source
$0.80
Beat +1.05%
EPS · est. $0.79
$2.2B
Beat +0.42%
Revenue · est. $2.2B
+27.2%
Beating market
MRVL vs S&P since report
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−7%0+7%+14%Mar 5Mar 6report 4:06pm ETearnings−1.4%+8.6%
−7%0+7%+14%Mar 5Mar 6earnings−1.4%+8.6%
MRVL +8.6%S&P 500 −1.4%
−7%0+7%+14%Mar 5Mar 6report 4:06pm ETearnings−1.6%+8.6%
−7%0+7%+14%Mar 5Mar 6earnings−1.6%+8.6%
MRVL +8.6%NASDAQ −1.6%
−7%0+7%Mar 4Mar 13report 4:06pm ETearnings−2.6%+3.5%
−7%0+7%Mar 4Mar 13earnings−2.6%+3.5%
MRVL +3.5%S&P 500 −2.6%
−7%0+7%Mar 4Mar 13report 4:06pm ETearnings−2.4%+3.5%
−7%0+7%Mar 4Mar 13earnings−2.4%+3.5%
MRVL +3.5%NASDAQ −2.4%
+18.35%
Day of report
+3.44%
Next session
−1.91%
One week
+27.78%
30 days

S&P 500 over the same 30 days: +0.54%.

Did MRVL Beat Earnings? Q4 2026 Results

Marvell Technology closed out fiscal 2026 on a strong note, posting Q4 revenue of $2.22 billion, up 22.1% year-over-year and just ahead of the $2.21 billion consensus estimate, while non-GAAP diluted EPS of $0.80 edged past the $0.79 Wall Street expectation by 1.05%. The primary engine behind the results was an AI-driven surge in the data center segment, which contributed $1.65 billion, or 74% of total revenue, growing 21% year-over-year as hyperscaler demand for Marvell's custom silicon and interconnect solutions remained robust. Non-GAAP operating margin expanded to 35.7% from 33.7% a year ago, reflecting meaningful operating leverage even as non-GAAP gross margin dipped slightly to 59.0%. For the full fiscal year, revenue reached $8.19 billion, growing 42%. Looking ahead, management guided Q1 fiscal 2027 revenue to $2.40 billion and non-GAAP EPS of $0.79, with CEO Matt Murphy projecting year-over-year growth to accelerate each quarter, supported by record-pace bookings and contributions from the recently closed Celestial AI and XConn Technologies acquisitions.

Key Takeaways
  • Robust AI demand driving data center revenue growth of 21% YoY
  • Strong operating leverage with non-GAAP operating margin of 35.7%
  • Communications and other revenue grew 26% YoY
  • Revenue came in $19.0 million above the mid-point of guidance

“Marvell delivered record fiscal 2026 revenue of $8.195 billion, growing 42% year-over-year, driven by robust AI demand. We also delivered GAAP EPS of $3.07 and non-GAAP EPS of $2.84, up 81% year-over-year, demonstrating the strong operating leverage in our business model.”

Marvell Technology CEO, on the earnings call

Forward Guidance & Outlook

For Q1 fiscal 2027, Marvell expects net revenue of $2.400 billion ±5%, non-GAAP gross margin of 58.25%–59.25%, non-GAAP operating expenses of approximately $575 million, non-GAAP diluted EPS of $0.79 ±$0.05, and GAAP diluted EPS of $0.31 ±$0.05. The outlook includes expected results from Celestial AI and XConn Technologies acquisitions that closed after fiscal 2026 year-end. Management expects year-over-year revenue growth to accelerate each quarter in fiscal 2027, driven by continued strength in the data center business with bookings growing at a record pace.

MRVL YoY Financials

Q4 2026 vs Q4 2025 · SEC filings Q4 2025 Q4 2026
$0$700.0M$1.4B$2.1B$1.8B$2.2BRevenue$917.4M$1.1BGross Profit$235.2M$404.4MOperating Income$200.2M$396.1MNet Income
$0$700.0M$1.4B$2.1BRevenueGross ProfitOperating IncomeNet Income

MRVL Revenue by Segment

Data Center$1.7B+21.0%
Communications and other
Enterprise Networking
Carrier Infrastructure
Consumer
Automotive/Industrial

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