The earnings call reflects strong overall performance with significant revenue growth, particularly in the data center and AI sectors, and successful strategic initiatives like the automotive Ethernet divestiture. However, there are challenges with revenue declines in certain sectors and lumpiness in the custom business. Despite these challenges, the company is on a positive trajectory with robust market opportunities and strategic planning.

Company Guidance

During Marvell Technology Inc.'s earnings call for the second quarter of fiscal year 2026, the company announced record revenue of $2.006 billion, marking a 6% sequential increase and a substantial 58% year-over-year growth. The data center end market saw robust momentum with a 69% year-over-year increase, driven by strong AI demand, while enterprise networking and carrier infrastructure end markets collectively grew 43% year-over-year. Marvell expanded its non-GAAP operating margin by 870 basis points year-over-year to 34.8% and achieved record non-GAAP earnings per share of $0.67, up 123% year-over-year. The company generated $462 million in operating cash flow, significantly up from $333 million in the previous quarter, and repurchased $540 million of stock in the first half of the fiscal year. Looking ahead to the third quarter, Marvell expects revenue to be approximately $2.06 billion at the midpoint, a 36% year-over-year growth, and anticipates maintaining strong growth momentum across its AI-driven data center and recovering enterprise networking and carrier infrastructure markets.

Record Revenue and Growth

Marvell delivered record revenue of $2.006 billion for Q2 FY2026, reflecting a 6% sequential increase and strong 58% year-over-year growth.

Data Center Market Expansion

The data center end market grew 69% year-over-year, driven by robust AI demand, now accounting for 74% of total revenue.

Operating Margin and EPS Growth

Non-GAAP operating margin expanded by 870 basis points year-over-year to 34.8%, with record non-GAAP EPS of $0.67, up 123% year-over-year.

Successful Automotive Ethernet Divestiture

Completed the divestiture of the automotive Ethernet business in a $2.5 billion all-cash transaction, providing flexibility to enhance stock repurchase and technology platform.

Strong Custom Silicon Design Wins

Secured multibillion-dollar lifetime revenue potential from new design wins, with a plan to grow data center market share to 20% of a $94 billion TAM by 2028.

Electro-Optics Interconnect Growth

Electro-optics interconnect portfolio continues to lead the industry with strong demand for 800-gig PAM DSPs and next-generation 1.6T PAM DSPs.

Enterprise Networking and Carrier Infrastructure Recovery

Enterprise networking and carrier infrastructure markets grew 43% year-over-year, with sequential growth expected to continue at approximately 30%.

Marvell (MRVL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MRVL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 27, 2025	2026 (Q3)	0.74 / -	0.43	―	―	―
Aug 28, 2025	2026 (Q2)	0.67 / 0.67	0.3	123.33% (+0.37)
May 30, 2025	2026 (Q1)	0.61 / 0.62	0.24	158.33% (+0.38)
Mar 05, 2025	2025 (Q4)	0.59 / 0.60	0.46	30.43% (+0.14)
Dec 03, 2024	2025 (Q3)	0.41 / 0.43	0.41	4.88% (+0.02)
Aug 29, 2024	2025 (Q2)	0.29 / 0.30	0.33	-9.09% (-0.03)
May 30, 2024	2025 (Q1)	0.24 / 0.24	0.31	-22.58% (-0.07)
Mar 07, 2024	2024 (Q4)	0.46 / 0.46	0.46	0.00% (0.00)
Nov 30, 2023	2024 (Q3)	0.40 / 0.41	0.57	-28.07% (-0.16)
Aug 24, 2023	2024 (Q2)	0.32 / 0.33	0.57	-42.11% (-0.24)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MRVL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 28, 2025	$77.23	$62.86	-18.61%
May 30, 2025	$60.14	$61.42	+2.13%
Mar 05, 2025	$89.96	$72.14	-19.81%
Dec 03, 2024	$95.67	$117.86	+23.19%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.