Q1 26 EPS
$0.62
BEAT +1.11%
Est. $0.61
Q1 26 Revenue
$1.90B
BEAT +0.87%
Est. $1.88B
vs S&P Since Q1 26
+146.0%
BEATING MARKET
MRVL +168.2% vs S&P +22.3%
Market Reaction
Did MRVL Beat Earnings? Q1 2026 Results
Marvell Technology kicked off fiscal 2026 with a record first quarter, posting revenue of $1.90 billion, up 63.3% year over year and ahead of the $1.88 billion consensus, while non-GAAP EPS of $0.62 edged past the $0.61 analyst estimate by 1.11%, mor… Read more Marvell Technology kicked off fiscal 2026 with a record first quarter, posting revenue of $1.90 billion, up 63.3% year over year and ahead of the $1.88 billion consensus, while non-GAAP EPS of $0.62 edged past the $0.61 analyst estimate by 1.11%, more than doubling from $0.24 in the year-ago period. The single biggest engine behind the results was an AI-fueled data center business that surged 76% year over year to $1.44 billion, now accounting for 76% of total revenue as demand for custom silicon and electro-optics products accelerated well beyond initial expectations. Non-GAAP operating margin expanded sharply to 34.2% from 23.3% a year earlier, underscoring the operating leverage embedded in Marvell's scaled AI platform. Some analysts remain cautious about competitive dynamics around custom accelerator wins, adopting a wait-and-see posture, but management's Q2 guidance of $2.00 billion in revenue and non-GAAP EPS of $0.67 signals the company sees no letup in momentum, with a dedicated Custom AI Investor Event scheduled for June 17, 2025 to lay out long-term market share goals for its custom silicon franchise.
Key Takeaways
- • Strong AI demand in the data center end market driving 76% YoY data center revenue growth
- • Rapid scaling of custom silicon programs
- • Robust shipments of electro-optics products
- • Data center segment now represents 76% of total revenue
- • Carrier infrastructure revenue nearly doubled YoY with 93% growth
- • Non-GAAP operating margin expanded to 34.2% from 23.3% a year ago
MRVL YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
MRVL Revenue by Segment
With YoY comparisons, source: SEC Filings
“Marvell delivered record revenue in the first quarter of $1.895 billion, a 63% year-over-year increase, and we are forecasting continued strong growth into the second quarter. This momentum is being fueled by strong AI demand in the data center end market, where our revenue is benefiting from the rapid scaling of our custom silicon programs and robust shipments of our electro-optics products.”
— Matt Murphy, Q1 2026 Earnings Press Release
MRVL Earnings Trends
MRVL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MRVL EPS Trend
Earnings per share: estimate vs actual
MRVL Revenue Trend
Quarterly revenue: estimate vs actual
MRVL Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 | — | — | — | — | — |
| Q3 26 | — | $0.76 | — | $2.07B | — |
| Q2 26 MISS | $0.67 | $0.67 | -0.50% | $2.01B | -0.20% |
| Q1 26 BEAT | $0.61 | $0.62 | +1.11% | $1.90B | +0.87% |
| Q4 25 BEAT FY | $0.59 | $0.60 | +1.69% | $1.82B | — |
| FY Full Year | $1.56 | $1.57 | +0.75% | $5.77B | +0.32% |