Marvell Technology (MRVL) Reports Record Q2 Results; Shares Rise Amid Sector Weakness

SANTA CLARA, Calif., Aug. 28, 2025 (AP) - Marvell Technology, Inc. (NASDAQ: MRVL) delivered a strong second-quarter fiscal 2026 report Thursday, posting yet another milestone in both revenue and profitability.

Key Financial Highlights Marvell achieved record net revenue of $2.006 billion, marking a 58 percent year-over-year increase and beating the midpoint of guidance by $6 million. On a non-GAAP basis, the company reported earnings of $0.67 per share, in line with Wall Street expectations; GAAP diluted earnings per share came in at $0.22. Non-GAAP gross margin reached 59.4 percent, compared to a GAAP gross margin of 50.4 percent.

Executive Commentary “We achieved an unprecedented revenue of $2.006 billion this quarter, driven by strong demand for our silicon and optics solutions powered by AI,” said CEO Matt Murphy. “With more than 50 new custom AI design projects underway, we expect continued expansion in enterprise networking and carrier infrastructure in the months ahead”.

Market Reaction Despite broader semiconductor sector pressure, MRVL shares rallied intraday, rising 2.47 percent to $76.64, as investors applauded the beat-and-match results amid heightened AI demand and supply-chain headwinds. Options turnover exceeded 1.2 million contracts, underscoring robust trading interest in the name.

Analyst Expectations and Outlook Wall Street consensus had anticipated revenue of $2.01 billion and non-GAAP EPS of $0.67, with data center revenue expected to grow mid-single digits sequentially and custom silicon projected at $427 million, a 12 percent sequential increase. Management reaffirmed full-year guidance for net revenue near $8.24 billion and normalized EPS of $2.80, positioning Marvell for continued leadership in AI-driven data infrastructure.

Technical Perspective Technically, MRVL’s share price has rebounded from its 30-day support level of $72.89 and is now trading above its 30-day moving average of $75.32, signaling a potential breakout from its long-term consolidation pattern. The relative strength index (RSI) sits at 46.78, suggesting room for further upside if momentum accelerates.

Looking Ahead Investors will be watching for margin expansion and cash-flow trajectory in Q3, as well as detail on new design wins and optics product ramp-ups tied to hyperscale data center deployments. With AI and 800G interconnect demand remaining robust, Marvell expects to sustain its growth momentum into fiscal Q3 and beyond.