Marvell Technology reported net revenue of $1.895 billion for Q1 of fiscal 2026 ended May 3, 2025, up 63% year-over-year. The company said this amount was $20.0 million above the mid-point of its guidance provided on May 6, 2025.

1. 01

   Marvell Technology reported net revenue of $1.895 billion for Q1 of fiscal 2026 ended May 3, 2025, up 63% year-over-year. The company said this amount was $20.0 million above the mid-point of its guidance provided on May 6, 2025.

2. 02

   For Q1, the company's GAAP net income was $177.9 million, or $0.20 per diluted share, and non-GAAP net income was $540.0 million, or $0.62 per diluted share. GAAP gross margin was 50.3% and non-GAAP gross margin was 59.8%.

3. 03

   For Q1, Marvell disclosed that data center revenue was $1,440.6 million, up 76% year-over-year and 5% sequentially, and represented 76% of total net revenue. Carrier infrastructure revenue was $138.4 million, up 93% year-over-year.

4. 04

   For Q2 of fiscal 2026, Marvell provided net revenue guidance of $2.000 billion +/- 5%, GAAP gross margin guidance of 50% to 51%, and non-GAAP diluted net income per share guidance of $0.67 +/- $0.05. The company said GAAP diluted net income per share guidance is $0.21 +/- $0.05.

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Original filing

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