Q2 26 EPS
$0.67
MISS 0.50%
Est. $0.67
Q2 26 Revenue
$2.01B
MISS 0.20%
Est. $2.01B
vs S&P Since Q2 26
+129.4%
BEATING MARKET
MRVL +141.1% vs S&P +11.7%
Market Reaction
Did MRVL Beat Earnings? Q2 2026 Results
Marvell Technology delivered a fractionally soft but fundamentally strong second quarter of fiscal 2026, posting revenue of $2.01 billion, up 57.6% year-over-year, that missed consensus by just 0.20%, while non-GAAP EPS of $0.67 fell a slim 0.50% sho… Read more Marvell Technology delivered a fractionally soft but fundamentally strong second quarter of fiscal 2026, posting revenue of $2.01 billion, up 57.6% year-over-year, that missed consensus by just 0.20%, while non-GAAP EPS of $0.67 fell a slim 0.50% short of the $0.67 estimate. The headline story, however, belongs to the data center segment, which generated $1.49 billion, 74% of total revenue, on the back of surging AI demand for custom silicon and electro-optics products, with CEO Matt Murphy noting that custom AI design activity is at an all-time high across more than 50 new opportunities. The company also swung to GAAP net income of $194.80 million from a loss of $193.30 million a year ago, underscoring meaningful margin improvement. Looking ahead, Marvell guided Q3 revenue to approximately $2.06 billion with non-GAAP EPS of $0.74, though the next quarter's results will reflect the completed $2.5 billion divestiture of its Automotive Ethernet business to Infineon, which closed in mid-August.
Key Takeaways
- • Strong AI demand for custom silicon and electro-optics products driving data center revenue growth of 69% YoY
- • Significant recovery in enterprise networking (28% YoY) and carrier infrastructure (71% YoY) end markets
- • Data center end market represents 74% of total revenue
- • Non-GAAP operating margin expanded to 34.8% from 26.1% year-over-year
MRVL YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
MRVL Revenue by Segment
With YoY comparisons, source: SEC Filings
“Marvell delivered record revenue of $2.006 billion in the second quarter – a 58% year-over-year increase – and we expect continued growth into the third quarter, accompanied by operating margin and earnings per share expansion.”
— Matt Murphy, Q2 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% |