Marvell Technology Reports Record Q4 Results, Raises Outlook

Data center demand drives strong growth, company eyes $15 billion in revenue for fiscal 2028.

Published on Mar. 6, 2026

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Marvell Technology (NASDAQ:MRVL) reported record revenue and earnings for its fourth quarter and fiscal year 2026, driven by robust demand in the data center market. The company raised its outlook for fiscal 2027 and fiscal 2028, projecting revenue to approach $11 billion and exceed $15 billion, respectively, as it expands its product portfolio and customer footprint across AI infrastructure.

Why it matters

Marvell's strong performance and optimistic outlook reflect the growing importance of data centers and AI-driven technologies in the broader technology landscape. The company's investments in interconnect, switching, and custom silicon solutions position it well to capitalize on the surging demand for high-performance computing and networking infrastructure.

The details

In the fourth quarter, Marvell reported record revenue of $2.219 billion, up 7% sequentially, with data center revenue accounting for 74% of the total. Non-GAAP earnings per share were $0.80, exceeding the midpoint of guidance. For the full fiscal year 2026, Marvell reported revenue of $8.195 billion, up 42% year-over-year. The company saw strong growth across its data center product lines, including interconnect, switching, and custom silicon. Looking ahead, Marvell expects data center revenue to grow about 10% sequentially in the first quarter of fiscal 2027 and to surpass $600 million in fiscal 2027, up from a prior expectation of $500 million. The company also expects its custom silicon business to grow more than 20% year-over-year in fiscal 2027 and to at least double in fiscal 2028.

  • Marvell reported record results for its fourth quarter and fiscal year 2026.
  • For the first quarter of fiscal 2027, Marvell expects data center revenue to grow about 10% sequentially.
  • In fiscal 2027, Marvell now expects total revenue to grow more than 30% year-over-year, approaching $11 billion.
  • In fiscal 2028, Marvell expects data center revenue to grow close to 50% year-over-year and overall company revenue to reach roughly $15 billion.

The players

Marvell Technology

A global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets.

Matt Murphy

CEO of Marvell Technology.

Willem Meintjes

CFO of Marvell Technology.

Chris Koopmans

President and COO of Marvell Technology.

Celestial AI

A company recently acquired by Marvell Technology, which strengthens Marvell's position in AI scale-up networking.

Xconn

A company recently acquired by Marvell Technology, which expands Marvell's switching expertise, particularly in PCIe, and supports both UALink and Ethernet-based scale-up opportunities.

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