Record Revenue Growth: Marvell Technology reported record revenue of $2.006 billion for Q2 FY2026, reflecting a 58% year-over-year growth and a 6% sequential increase. The data center end market was a key driver, growing 69% year-over-year, predominantly fueled by strong AI demand.

Profitability and Operating Margin Expansion: Non-GAAP operating margin improved significantly by 870 basis points year-over-year to 34.8%, resulting in record non-GAAP earnings per share of $0.67, which is up 123% year-over-year. This demonstrates substantial operating leverage in their business model.

Divestiture and Cash Returns: Completed the divestiture of the automotive Ethernet business for $2.5 billion, enhancing capital flexibility for stock buybacks and investments. In the first half of FY2026, Marvell repurchased $540 million in stock, with an authorization of approximately $2 billion remaining.