MRVL — Marvell Technology, Inc.
Quarterly Earnings Performance
Calendar 2025
Note: Marvell's fiscal year ends late January/early February. Quarters below are labeled by fiscal quarter but grouped by the calendar year in which they were reported.
| Quarter |
Period |
Report Date |
Revenue |
YoY Growth |
EPS (non-GAAP) |
Guidance (next qtr) |
Notes |
| Q4 FY2025 |
Nov 2024–Feb 2025 |
2025-02-26 |
$1.817B |
+27% |
$0.60 |
— |
DC AI ramp; beat estimates |
| Q1 FY2026 |
Feb–May 2025 |
2025-05-28 |
$1.895B |
+63% |
$0.62 |
— |
Record rev; DC +92% YoY |
| Q2 FY2026 |
May–Aug 2025 |
2025-08-28 |
$2.006B |
+58% |
$0.67 |
~$2.06B mid |
DC 74% of rev; networking surge |
| Q3 FY2026 |
Aug–Nov 2025 |
2025-12-02 |
$2.075B |
+37% |
$0.76 |
~$2.20B mid |
Record; auto ethernet sale (GAAP $2.20) |
Calendar 2026
| Quarter |
Period |
Report Date |
Revenue |
YoY Growth |
EPS (non-GAAP) |
Guidance (next qtr) |
Notes |
| Q4 FY2026 |
Nov 2025–Jan 2026 |
2026-03-05 |
$2.219B |
+22% |
$0.80 |
— |
FY2026 record $8.195B; GAAP EPS $0.46 |
| FY2026 |
Full Year |
— |
$8.195B |
~+42% |
$2.84 |
— |
Record; GAAP EPS $3.07 (incl. auto gain) |
Upcoming
| Quarter |
Est. Report Date |
Est. Revenue |
Est. EPS |
Source |
| Q1 FY2027 |
~2026-05-27 |
$2.3–2.5B (est.) |
~$0.84 (est.) |
Analyst consensus; Q4 trajectory |
Commentary
Marvell has transformed into a custom AI silicon powerhouse, with Data Center revenue reaching 74% of total revenue by Q2 FY2026, driven by ASIC design wins at Amazon Web Services, Google, and Microsoft. Revenue growth accelerated to +63% YoY in Q1 FY2026, reflecting a step-change in AI inference and training chip demand; the slight deceleration to +37% in Q3 FY2026 still represents above-peer growth on a larger base. A notable one-time item in Q3 FY2026 was the sale of the automotive ethernet business, which inflated GAAP EPS to $2.20 that quarter. The next earnings release (Q1 FY2027, ~May 27, 2026) is expected to show continued momentum as hyperscaler ASIC ramps continue, with analyst consensus around $2.4B.
Sources
Marvell Q4 FY2025 8-K — SEC
Marvell Q1 FY2026 8-K — SEC
Marvell Q2 FY2026 8-K — SEC
Marvell Q3 FY2026 8-K — SEC
Marvell Q4 FY2026 8-K — SEC
Marvell Q2 FY2026: Data Center Steals Spotlight — Futurum Group
Generated: 2026-05-23