Marvell Technology (MRVL) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.64%. A quarter ago, it was expected that this chipmaker would post earnings of $0.59 per share when it actually produced earnings of $0.60, delivering a surprise of 1.69%.Over the last four quarters, the compa ...

Financial Data and Key Metrics Changes - Marvell reported record revenue of $1,895 million for the first quarter of fiscal year 2026, reflecting a 4% sequential increase and a strong 63% year-over-year growth [4][24] - Non-GAAP earnings per diluted share reached $0.62, representing a year-over-year growth of 158%, which is more than double the pace of revenue growth [24][26] - GAAP gross margin was 50.3%, while non-GAAP gross margin was 59.8% [24][25] Business Line Data and Key Metrics Changes - Data center revenue was $1,440 million, growing 5% sequentially and 76% year-over-year, driven by AI demand [7][24] - Enterprise networking revenue was $178 million, and carrier infrastructure revenue totaled $138 million, collectively growing by 14% sequentially [17] - Consumer revenue was $63 million, representing a 29% sequential decline, but is expected to grow by approximately 50% sequentially in the next quarter [18] - Automotive and industrial revenue was $76 million, declining by 12% sequentially, with expectations of flat revenue in the next quarter [18] Market Data and Key Metrics Changes - The data center end market contributed 76% of total revenue, indicating its dominance in Marvell's business [24] - The company anticipates continued growth in the data center market, particularly driven by custom AI silicon programs [19][22] Company Strategy and Development Direction - Marvell is focusing on expanding its custom silicon business, particularly in AI infrastructure, and plans to host an investor event to showcase its technology [20][22] - The company announced the sale of its Automotive Ethernet business to Infineon for $2,500 million, which will provide additional flexibility in capital allocation [5][6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth despite macroeconomic uncertainties, with expectations for strong demand in AI and data center markets [19][22] - The company is closely monitoring the broader environment to assess potential long-term impacts on its business [19] Other Important Information - Marvell significantly increased stock repurchases to $340 million in the first quarter, up from $200 million in the prior quarter [5][27] - The company expects second quarter revenue to be around $2,000 million, representing a 57% year-over-year growth [6][28] Q&A Session Summary Question: What is the direction of content in next-generation programs? - Management indicated that they are the incumbent supplier for AI XPUs and expect revenue to continue to grow on a multiyear basis with their customers [33][36] Question: How does Marvell plan to support a broader customer base? - Management confirmed that they have the capacity to expand their portfolio and engage with multiple customers, particularly in the AI and data center space [41][42] Question: Can you discuss Marvell's service technology for 200 gig SerDes? - Management stated that their SerDes technology remains best in class, with strong performance and a solid roadmap for future developments [47][48] Question: Can you break down data center revenue and AI's contribution? - Management noted that AI has become the majority of data center revenue and expects this trend to continue, with strong growth anticipated in custom silicon [55][56] Question: What are the expectations for the second half of the year? - Management expects growth across all business segments, driven by strong demand in AI and a recovery in enterprise networking and carrier infrastructure [66][67] Question: Can you provide insights on the optical business and market share? - Management confirmed strong market share in the 800 gig segment and expects continued growth in the optical business, particularly with the transition to 1.6T [116][120]

Financial Data and Key Metrics Changes - Marvell reported record revenue of $1,895 million for Q1 FY2026, reflecting a 4% sequential increase and a 63% year-over-year growth [3][22] - Non-GAAP earnings per diluted share reached $0.62, representing a year-over-year growth of 158%, significantly outpacing revenue growth [24][22] - GAAP gross margin was 50.3%, while non-GAAP gross margin was 59.8% [22][24] - Cash flow from operations was $333 million, with total debt at $4,200 million and a gross debt to EBITDA ratio of 1.8 times [24][25] Business Line Data and Key Metrics Changes - Data center revenue was $1,440 million, growing 5% sequentially and 76% year-over-year, driven by AI demand [5][22] - Enterprise networking revenue was $178 million, and carrier infrastructure revenue totaled $138 million, collectively growing 14% sequentially [16] - Consumer revenue was $63 million, representing a 29% sequential decline, but is expected to grow by approximately 50% sequentially in Q2 [17] - Automotive and industrial revenue was $76 million, declining by 12% sequentially, with expectations of flat revenue in Q2 [17] Market Data and Key Metrics Changes - The data center end market contributed 76% of total revenue, with AI now representing the majority of data center revenue [22][18] - The company anticipates continued growth in the enterprise networking and carrier infrastructure markets, with a forecast for mid single-digit sequential growth [16][20] Company Strategy and Development Direction - Marvell is focusing on expanding its custom silicon business, particularly in AI, with significant investments in R&D and partnerships, such as with NVIDIA [8][41] - The company announced the sale of its Automotive Ethernet business to Infineon for $2,500 million, which will enhance its capital allocation flexibility [4][25] - Marvell is committed to driving innovation in optical interconnects and custom silicon solutions to meet the growing demands of AI and cloud infrastructure [8][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth despite macroeconomic uncertainties, with a strong outlook for the second quarter [18][20] - The company is closely monitoring the broader environment to assess potential long-term impacts on its business [18] - Management highlighted the robust capital expenditure plans from hyperscalers and the emergence of new data center opportunities as positive indicators for future growth [20] Other Important Information - Marvell plans to host an investor event on June 17 to provide deeper insights into its custom silicon market position and growth opportunities [19][20] - The company has significantly increased stock repurchases, buying back $340 million in Q1, up from $200 million in the previous quarter [4][25] Q&A Session Summary Question: What is the direction of content in next-generation programs? - Management stated that they are the incumbent supplier for the current generation of AI XPUs and expect revenue to continue to grow on a multiyear basis with their customers [31][35] Question: How does Marvell plan to support a broader customer base? - Management confirmed that they have the engineering capacity to expand their portfolio and support multiple engagements, particularly in the data center and AI sectors [40][41] Question: Can you discuss Marvell's positioning in service technology for 200 gig SerDes? - Management highlighted that their SerDes technology remains best in class, with strong performance and a roadmap for future advancements [44][45] Question: Can you break down data center revenue and AI's contribution? - Management indicated that AI has become the majority of data center revenue and expects this trend to continue, with significant growth anticipated in the coming years [51][53] Question: What are the expectations for the second half of the year? - Management expects growth across all business segments, driven by strong demand in AI and a recovery in enterprise networking and carrier infrastructure [62][63] Question: Can you elaborate on the optical business and market share? - Management confirmed strong market share in the 800 gig segment and expects continued growth in the optical business, particularly with the transition to 1.6T solutions [108][110]

Marvell Technology, Inc. First Quarter of Fiscal Year 2026 May 29, 2025 Discussion of Non-GAAP Financial Measures Non-GAAP financial measures exclude the effect of stock-based compensation expense, amortization of acquired intangible assets, acquisition and divestiture related costs, restructuring and other related charges (including, but not limited to, asset impairment charges, recognition of future contractual obligations, employee severance costs, and facility exit related charges), resolution of legal ...

Revenue Outlook - Marvell Technology reaffirmed the midpoint of its revenue outlook for Q1 fiscal 2026, maintaining previous guidance from March 5, 2025[4] - The company announced a narrower guidance range for its revenue outlook[4] Events and Announcements - Marvell will host a webinar focused on the future of custom silicon technology for AI infrastructure[4] - The previously announced Investor Day has been postponed to a future date in calendar 2026[4]

Q1 Net Revenue: $1.895 billion, a new record, grew by 63% year-on-year Q1 Gross Margin: 50.3% GAAP gross margin; 59.8% non-GAAP gross margin Q1 Diluted income per share: $0.20 GAAP diluted income per share; $0.62 non-GAAP diluted income per shareSANTA CLARA, Calif., May 29, 2025 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the first quarter of fiscal year 2026.Net revenue for the first quarter of fisca ...

Novel multi-die packaging platform enables multi-die architectures with lower power consumption and reduced total cost  Industry-first modular RDL interposer offers an alternative to traditional silicon interposers and enables supply chain flexibility for data center infrastructure Solution is production-qualified and now entering production ramp in support of customer-specific AI accelerator designsSANTA CLARA, Calif., May 29, 2025 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data ...

Core Viewpoint - Marvell Technology, Inc. is expected to report strong growth in its first-quarter fiscal 2026 results, primarily driven by its AI-driven data center business, which has seen significant adoption and revenue growth in recent quarters [1][2]. Data Center Growth - The data center segment is a key growth driver for Marvell Technology, with record revenues of $1.37 billion in the fourth quarter of fiscal 2025, reflecting a 78.5% year-over-year increase and 24% sequential growth [3]. - For the first quarter, data center revenues are anticipated to grow in mid-single digits sequentially, with estimates suggesting revenues will reach $1.395 billion, indicating a robust 71% year-over-year growth [4]. Custom AI Silicon - Marvell Technology is experiencing strong demand for its custom AI silicon, which has allowed the company to deepen collaborations with hyperscale customers [5][6]. - The company has ramped up its 100-billion-transistor AI accelerators, enhancing its competitive edge in the AI data center market [6]. Electro-Optics and Networking - Marvell's electro-optics and high-speed networking segments are also expected to significantly contribute to first-quarter revenues, with strong order momentum for its 800-gig PAM and 400ZR interconnect solutions [7]. - The company has begun shipments of its 1.6T PAM DSP technology, which improves bandwidth efficiency and energy savings, further supporting its growth in the data center interconnect market [8]. Consumer and Industrial Market Weakness - Marvell's industrial business is facing challenges with lumpy order patterns, and revenues in this segment are expected to decline in high-single digits sequentially [9]. - The consumer end market is projected to see a revenue decline of approximately 35% sequentially due to gaming seasonality [9]. Financial Estimates - The Zacks Consensus Estimate for Marvell Technology's fiscal first-quarter revenues is $1.88 billion, indicating a year-over-year rise of 68.6% and a sequential growth of 3.5% [10]. - The consensus estimate for first-quarter earnings is 61 cents per share, reflecting a year-over-year growth of 154.7% and a sequential rise of 1.7% [10].

Group 1 - Marvell Technology, Inc. (NASDAQ: MRVL) is expected to report Q1 '26 earnings on May 29, 2025, with a positive outlook from analysts [1] - The company is anticipated to benefit from significant capital investments guided by hyperscalers for the year 2025 [1] Group 2 - The article highlights the importance of considering the entire investment ecosystem rather than evaluating a company in isolation [1]

CHONGQING, CHINA - MARCH 3: In this photo illustration, the Marvell Technology Inc. logo is ... More displayed on a smartphone screen, with the company's latest stock market performance and candlestick charts visible in the background, highlighting Marvell Technology's real-time financial trends, stock price fluctuations, market volatility, and investment developments within the semiconductor, data infrastructure, and networking technology sectors, on March 3, 2025, in Chongqing, China. (Photo by Cheng Xin/ ...