Marvell Technology Inc. reported record net revenue of USD 2.1 billion for the third quarter (Q3) of fiscal year 2026, representing a 37% year-on-year increase. GAAP gross margin for Q3 was 51.6%, while non-GAAP gross margin reached 59.7%. GAAP net income for the quarter was USD 1.9 billion, equivalent to USD 2.20 per diluted share. Non-GAAP net income for Q3 was USD 655.0 million, or USD 0.76 per diluted share. Cash flow from operations for the period was USD 582.3 million. During the quarter, Marvell Technology Inc. completed the sale of its automotive ethernet business to Infineon Technologies AG for USD 2.5 billion in cash, resulting in a pre-tax gain on sale of USD 1.8 billion.
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