Marvell Technology(US:MRVL) ZACKS·2025-05-30 13:35Core Insights - Marvell Technology, Inc. reported stronger-than-expected first-quarter results for fiscal 2026, with non-GAAP earnings of 62 cents per share, exceeding the Zacks Consensus Estimate by 1.64% and increasing 158% year over year [1][2] - The company's first-quarter revenues reached approximately $1.9 billion, surpassing the Zacks Consensus Estimate by 1.04% and growing 63% year over year [2][4] Financial Performance - Non-GAAP gross profit was $1.13 billion, reflecting a year-over-year increase of 56.6% and a sequential increase of 3.8%, while the non-GAAP gross margin contracted to 59.8% [9] - Non-GAAP operating profit increased to $647.3 million, up 239.6% year over year and 5.7% sequentially, with an operating margin of 34.2% [10] Revenue Breakdown by Segment - Data center revenues were $1.44 billion, a 76% increase year over year and 5% sequentially, accounting for 76% of total revenues [4] - Enterprise networking revenues rose 16% year over year and 4% sequentially to $178 million, representing 9% of total revenues [5] - Carrier infrastructure revenues soared 93% year over year and 31% sequentially to $138 million, making up 7% of total revenues [6] - Automotive/Industrial revenues decreased 2% year over year and 12% sequentially to $76 million, constituting 4% of total revenues [7] - Consumer revenues increased 50% year over year but declined 29% sequentially to $42 million, representing 2% of total revenues [8] Future Guidance - For the second quarter, Marvell expects revenues to be around $2 billion (+/- 5%), with a projected non-GAAP gross margin in the 59%-60% range and operating expenses estimated at $495 million [11] - The company projects non-GAAP earnings per share for the fiscal second quarter to be 67 cents per share (+/- 5 cents), indicating a year-over-year improvement of 116.7% [12]