Marvell Technology Unveils Fiscal Year 2026 Q3 Financial Results
Marvell Technology, Inc. has reported its financial results for the third quarter of fiscal year 2026, showcasing impressive growth. The company generated a record net revenue of $2.075 billion, reflecting a year-on-year increase of 37%. This figure surpassed the midpoint of the guidance the company previously issued.
Financial Performance Highlights
- Q3 2026 Revenue: $2.075 billion
- Q3 Gross Margin: 51.6% (GAAP), 59.7% (non-GAAP)
- GAAP Diluted Earnings Per Share (EPS): $2.20
- Non-GAAP Diluted EPS: $0.76
- GAAP Net Income: $1.901 billion
- Non-GAAP Net Income: $655 million
- Cash Flow from Operations: $582.3 million
Marvell’s Chairman and CEO, Matt Murphy, emphasized that strong demand for their data center products drove these record results. Looking ahead, Murphy projected robust growth for the fourth quarter, with full-year revenue expected to exceed 40%. The company also confirmed expectations for continued growth in data center revenue next year.
Strategic Developments
In a significant strategic move, Marvell announced the acquisition of Celestial AI, which is anticipated to enhance the company’s capabilities in AI datacenter infrastructure. This acquisition is viewed as a transformational milestone that accelerates Marvell’s roadmap in interconnect technology.
Outlook for Q4 of Fiscal Year 2026
- Projected Q4 Revenue: $2.200 billion +/- 5%
- Expected GAAP Gross Margin: 51.1% – 52.1%
- Projected Non-GAAP Gross Margin: 58.5% – 59.5%
- Estimated GAAP Operating Expenses: Approximately $741 million
- Anticipated Non-GAAP Operating Expenses: Approximately $515 million
- Expected GAAP Diluted EPS: $0.36 +/- $0.05
- Expected Non-GAAP Diluted EPS: $0.79 +/- $0.05
Investors and stakeholders can look forward to Marvell’s fourth-quarter results, as the company appears well-positioned for sustained growth amidst increasing demand in the semiconductor industry.
Recent Corporate Changes
The sale of Marvell’s automotive ethernet business to Infineon Technologies AG for $2.5 billion in cash was a notable development prior to these results. This divestment resulted in a pre-tax gain of $1.8 billion.
In terms of market performance, Marvell serves a diverse set of sectors, including data center, enterprise networking, carrier infrastructure, consumer, and automotive/industrial applications. With expectations for accelerating demand, the outlook for Marvell’s future remains promising.
About Marvell Technology
Marvell Technology, Inc. has been a leader in data infrastructure semiconductor solutions for over 30 years. The company focuses on building relationships with its customers to transform data storage, processing, and security technologies.
