Marvell Technology Group ( (MRVL) ) has released its Q3 earnings. Here is a breakdown of the information Marvell Technology Group presented to its investors.
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Marvell Technology, Inc., a prominent player in the semiconductor industry, specializes in data infrastructure solutions, catering to sectors such as data centers, enterprise networking, and consumer electronics.
In its latest earnings report for the third quarter of fiscal year 2026, Marvell Technology announced record net revenue of $2.075 billion, marking a 37% increase year-over-year. The company also reported a GAAP gross margin of 51.6% and a non-GAAP gross margin of 59.7%, alongside a GAAP diluted income per share of $2.20 and a non-GAAP diluted income per share of $0.76.
Key highlights from the report include the completion of the sale of Marvell’s automotive ethernet business to Infineon Technologies AG for $2.5 billion, resulting in a pre-tax gain of $1.8 billion. The company’s strong performance was driven by robust demand for its data center products, with data center revenue growing by 38% year-over-year. Additionally, Marvell announced the acquisition of Celestial AI, aimed at enhancing its capabilities in AI datacenter infrastructure.
Looking ahead, Marvell Technology is optimistic about its growth prospects, forecasting a net revenue of approximately $2.2 billion for the fourth quarter of fiscal 2026. The company expects continued strong demand for its products, particularly in the data center sector, and anticipates full-year revenue growth to exceed 40%.