Marvell Technology, Inc. reported impressive financial results for the second quarter of fiscal year 2026.
Net revenue reached a new record of $2.006 billion, marking a significant 58% year-on-year growth.
The company's GAAP gross margin was 50.4%, with a non-GAAP gross margin of 59.4%.
Q2 Net Revenue
Achieved a record $2.006 billion, indicating a 58% increase year-on-year.
Q2 Diluted Income per Share
Reported $0.22 for GAAP diluted income per share and $0.67 for non-GAAP diluted income per share.
Financial Outlook for Q3 FY 2026
Includes revenue expectations of $2.060 billion +/- 5% and GAAP gross margin projections between 51.5% and 52.0%.
- Marvell's revenue growth is being driven by strong demand for custom silicon and electro-optics products, along with recovery in enterprise networking and carrier infrastructure markets.
- The company's AI design activity is at a peak, with over 50 new opportunities across more than 10 customers.
Marvell Technology's exceptional performance in the second quarter and optimistic outlook for the third quarter highlight its position as a leader in data infrastructure solutions.