Marvell Technology reported record second quarter 2026 results, exceeding analyst estimates for both top and bottom-line figures. The performance was anchored by an acceleration in the Data Center segment, which now accounts for 79% of total company revenue, while management raised its long-term revenue outlook for the remainder of the fiscal year.
Key Highlights
- Data Center revenue surged 46% year-over-year to $2.17 billion, fueled by robust demand for custom AI accelerators and optical connectivity solutions.
- Non-GAAP gross margin reached 58.9%, supported by a favorable product mix heavily weighted toward high-performance infrastructure silicon.
- Management provided aggressive guidance for the third quarter 2027, projecting revenue of $3.15 billion, which represents a 15% sequential growth rate at the midpoint.
- Sequential revenue growth in the Data Center segment reached 18%, significantly outperforming the Communications and other segment which declined 3% sequentially.