Marvell Technology Q3 Sales Up 37% to $2.075B, Q4 Guide $2.2B
Marvell’s Q3 FY2026 revenue rose 37% to $2.075B, driven by record data center sales of $1.518B (73% of total) and non-GAAP EPS of $0.76. The company sold its automotive unit for $1.8B, agreed to buy Celestial AI and gave Q4 revenue guidance of $2.2B.
1. Q3 Financial Results
Marvell reported Q3 FY2026 revenue of $2.075 billion, up 37% year-over-year, led by record data center sales of $1.518 billion, representing 73% of total revenue. Non-GAAP EPS rose to $0.76, marking the 12th consecutive quarter of meeting or exceeding consensus estimates.
2. Forward Guidance
Management guided Q4 revenue of $2.2 billion (+/-5%) and non-GAAP EPS of $0.79 (+/-$0.05), forecasting full-year FY2026 growth above 40%. CEO Matt Murphy also raised FY2027 data center growth expectations based on accelerating AI infrastructure demand.
3. Strategic Transactions
Marvell sold its automotive business to Infineon for $1.8 billion to streamline operations and agreed to acquire Celestial AI for optical interconnect technology, which management called a transformational milestone for AI infrastructure.
4. Cash Flow and Capital Returns
The company generated $582.3 million in operating cash flow against $73.5 million in capex, driving strong free cash flow conversion. A $1.3 billion share repurchase and $2.715 billion cash balance underscore robust capital return and liquidity profiles.