MRVL Marvell Technology, Inc.

What the last report said

Thu, Aug 27, 2026

Marvell Q2: Data Center surge drives record revenue, AI bookings robust; non-GAAP EPS beats consensus by 0.8%, but GAAP net income is only $0.33/share (heavily impacted by non-operational items), with underlying operations significantly stronger than consensus

• Data Center revenue surged +46% YoY to $2.17B, accounting for 79% of total revenue (+5pp YoY), driven by accelerated demand in AI servers, Ethernet switching, and DCI
• Non-GAAP gross margin reached 58.9% (flat QoQ, +0.5pp YoY), supported by higher-mix of high-margin AI products and scale benefits
• Operating income grew +58.5% YoY and +31.3% QoQ; operating margin expanded to 16.8% (+2.3pp QoQ), reflecting sustained operating leverage
• Operating cash flow reached $605.5M (+31.2% YoY); FCF was $483.1M (+5.0% QoQ), underscoring financial resilience

Risks, guidance detail and earnings-call takeaways are in the app. Get FirstPrint →