OpenNashEarnings

Semiconductors · Nasdaq: MRVL

Marvell earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends January · next results expected around 1 Dec 2026

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q2 FY2027

Marvell reported Q2 Net Revenue of $2.739 billion, a new record that grew by 37% year-on-year, with 53.1% GAAP gross margin (58.9% non-GAAP) and $0.33 GAAP diluted income per share ($0.94 non-GAAP).

Marvell posted record second-quarter revenue of $2.739 billion, up 37% from a year ago and $39.0 million above the midpoint of its guidance. Data center revenue, which is 79% of sales, grew 46% as demand for AI networking and custom chips stayed strong. GAAP net income was $308.0 million, or $0.33 per diluted share. Non-GAAP earnings were $0.94 per share, and operating cash flow was $605.5 million.

Read the Q2 FY2027 summary →

Quarters

KPI history

Revenue$2.7B+36.5% y/yQ2 FY27
Q3 FY25: $1.5BQ3 25$1.5BQ4 FY25: $1.8B (worked out from the annual figure)Q4 25$1.8BQ1 FY26: $1.9BQ1 26$1.9BQ2 FY26: $2.0BQ2 26$2.0BQ3 FY26: $2.1BQ3 26$2.1BQ4 FY26: $2.2B (worked out from the annual figure)Q4 26$2.2BQ1 FY27: $2.4BQ1 27$2.4BQ2 FY27: $2.7BQ2 27$2.7B

Fourth quarter worked out from the annual figure.

Data
Q3 FY25$1.5B
Q4 FY25$1.8B *
Q1 FY26$1.9B
Q2 FY26$2.0B
Q3 FY26$2.1B
Q4 FY26$2.2B *
Q1 FY27$2.4B
Q2 FY27$2.7B
Diluted EPS (GAAP)$0.33+50.0% y/yQ2 FY27
Q3 FY25: -$0.78Q3 25-$0.78Q1 FY26: $0.20Q1 26$0.20Q2 FY26: $0.22Q2 26$0.22Q3 FY26: $2.20Q3 26$2.20Q1 FY27: $0.04Q1 27$0.04Q2 FY27: $0.33Q2 27$0.33
Data
Q3 FY25-$0.78
Q1 FY26$0.20
Q2 FY26$0.22
Q3 FY26$2.20
Q1 FY27$0.04
Q2 FY27$0.33

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin16.8%+2.3 pts y/yQ2 FY27
Q3 FY25: -46.4%Q3 25-46.4%Q4 FY25: 12.9%Q4 2512.9%Q1 FY26: 14.3%Q1 2614.3%Q2 FY26: 14.5%Q2 2614.5%Q3 FY26: 17.2%Q3 2617.2%Q4 FY26: 18.2%Q4 2618.2%Q1 FY27: 14.0%Q1 2714.0%Q2 FY27: 16.8%Q2 2716.8%
Data
Q3 FY25-46.4%
Q4 FY2512.9%
Q1 FY2614.3%
Q2 FY2614.5%
Q3 FY2617.2%
Q4 FY2618.2%
Q1 FY2714.0%
Q2 FY2716.8%
Free cash flow$478.8M+15.6% y/yQ2 FY27
Q3 FY25: $461.3MQ3 25$461.3MQ4 FY25: $444.1MQ4 25$444.1MQ1 FY26: $214.1MQ1 26$214.1MQ2 FY26: $414.1MQ2 26$414.1MQ3 FY26: $508.8MQ3 26$508.8MQ4 FY26: $259.4MQ4 26$259.4MQ1 FY27: $483.1MQ1 27$483.1MQ2 FY27: $478.8MQ2 27$478.8M
Data
Q3 FY25$461.3M
Q4 FY25$444.1M
Q1 FY26$214.1M
Q2 FY26$414.1M
Q3 FY26$508.8M
Q4 FY26$259.4M
Q1 FY27$483.1M
Q2 FY27$478.8M

Operating cash flow minus capital expenditure, from cash flow statements.

Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27Q2 FY27
Revenue$1.5B$1.8Bd$1.9B$2.0B$2.1B$2.2Bd$2.4B$2.7B
Gross margin23.0%50.5%50.3%50.4%51.6%51.7%52.1%53.1%
Operating income-$702.8M$235.2Md$270.6M$290.1M$357.8M$404.4Md$339.4M$459.7M
Operating margin-46.4%12.9%14.3%14.5%17.2%18.2%14.0%16.8%
Net income-$676.3M$200.2Md$177.9M$194.8M$1.9B$396.1Md$34.5M$308.0M
Diluted EPS-$0.78—$0.20$0.22$2.20—$0.04$0.33
Operating cash flow$536.3Md$514.0Md$332.9M$461.6Md$582.3Md$373.7Md$638.8M$605.5Md
Capital expenditure$75.0Md$69.9Md$118.8M$47.5Md$73.5Md$114.3Md$155.7M$126.7Md
Free cash flow$461.3M$444.1M$214.1M$414.1M$508.8M$259.4M$483.1M$478.8M
R&D expense$488.6M$499.0Md$507.7M$519.0M$512.5M$536.0Md$652.3M$741.1M

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings