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Marvell Technology Inc. (MRVL) reported strong earnings for the third quarter of fiscal 2026, achieving an EPS of $0.76, surpassing the Zacks Consensus Estimate by 1.3%. Total revenues reached $2.08 billion, exceeding estimates by 0.61%. Year-over-year, revenues grew 36.8%, driven by significant increases in the data center, enterprise networking, and carrier infrastructure markets.
Data center revenues amounted to $1.52 billion, showing a 37.8% year-over-year increase and contributing 73.2% of total revenues. Enterprise networking revenues rose 57% year-over-year to $237.2 million, while carrier infrastructure revenues increased 98% to $167.8 million. Marvell also announced its acquisition of Celestial AI, set to close in Q1 of fiscal 2027, enhancing its position in optical interconnect technology.
For the fourth quarter, Marvell expects revenues between $2.20 billion (+/- 5%), with an EPS guidance of $0.79 (+/- $0.05). The anticipated revenue represents an 18.52% year-over-year growth. The company is projecting strong growth in its data center segment, fueled by increasing AI demand.
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