NASDAQ$MRVL
Marvell Technology Group Ltd · Q3 2025 earnings
Q3 2025 earnings · · Investor relations
Briefing
Reported financial results for the third quarter of fiscal year 2025, with revenue above guidance and driven by strong AI demand.
Marvell Technology reported Q3 2025 net revenue of $1.516 billion, a 7% increase year-over-year, driven by strong demand from AI. GAAP net loss was $(676.3) million, or $(0.78) per diluted share, while non-GAAP net income was $373.0 million, or $0.43 per diluted share. The company forecasts continued growth in Q4, driven by custom AI silicon programs and cloud interconnect products.
- Net revenue for Q3 2025 was $1.516 billion, exceeding the company's guidance.
- GAAP net loss was $(676.3) million, or $(0.78) per diluted share.
- Non-GAAP net income was $373.0 million, or $0.43 per diluted share.
- Q4 revenue is projected to grow another 19% sequentially and 26% year-over-year.
Headline financials
Revenue & EPS history
Marvell · Revenue · Quarterly
$1.52B
Revenue by segment
Marvell · $2.22B total across 2 segments · Q4 2026
- Data center$1.65B—74.4%
- Communications and other$567M—25.6%
Forward guidance
Marvell expects Q4 2025 net revenue to be $1.800 billion +/- 5%. GAAP gross margin is expected to be approximately 50%, and non-GAAP gross margin is expected to be approximately 60%. GAAP diluted net income per share is expected to be $0.16 +/- $0.05, and non-GAAP diluted net income per share is expected to be $0.59 +/- $0.05.
Tailwinds
- Net revenue is expected to be $1.800 billion +/- 5%.
- Non-GAAP gross margin is expected to be approximately 60%.
- Non-GAAP diluted net income per share is expected to be $0.59 +/- $0.05.
- Basic weighted-average shares outstanding are expected to be 867 million.
- Diluted weighted-average shares outstanding are expected to be 877 million.
Headwinds
- GAAP gross margin is expected to be approximately 50%.
- GAAP operating expenses are expected to be approximately $710 million.
- Non-GAAP operating expenses are expected to be approximately $480 million.
- GAAP diluted net income per share is expected to be $0.16 +/- $0.05 per share.
- Restructuring related charges and other
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
+0.5%
Avg return
Earnings day
-0.0%
Avg return
5 days after
+1.9%
Avg return
30 days after
52%
34 / 65 earnings
Positive
+42.5%
Q1 2024
Best reaction
-19.8%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | +0.0% | -2.1% | +22.3% | |
| Q3 2026 | +2.6% | -1.0% | -3.8% | |
| Q2 2026 | -18.7% | -19.3% | +7.7% | |
| Q1 2026 | -5.6% | +4.0% | +21.1% | |
| Q4 2025 | -19.8% | -25.5% | -45.2% | |
| Q3 2025 | +22.0% | +17.2% | +17.2% | |
| Q2 2025 | +11.4% | +2.3% | +3.7% | |
| Q1 2025 | -9.2% | -12.4% | -7.8% | |
| Q4 2024 | -7.3% | -11.8% | -10.7% | |
| Q3 2024 | -5.9% | -9.6% | +7.5% | |
| Q2 2024 | -13.0% | -8.7% | -15.0% | |
| Q1 2024 | +42.5% | +37.9% | +25.8% | |
| Q4 2023 | -2.9% | -9.4% | -4.5% | |
| Q3 2023 | -3.9% | -11.7% | -20.4% | |
| Q2 2023 | -4.0% | -8.1% | -17.1% | |
| Q1 2023 | +12.7% | +9.6% | -10.6% | |
| Q4 2022 | -6.3% | -4.7% | +5.0% | |
| Q3 2022 | +17.8% | +29.0% | +23.3% | |
| Q2 2022 | -2.9% | -3.2% | +0.6% | |
| Q1 2022 | +4.2% | +7.0% | +16.4% | |
| Q4 2021 | -16.2% | -16.2% | +3.8% | |
| Q3 2021 | -4.9% | -4.3% | +4.2% | |
| Q2 2021 | +7.4% | +10.1% | +6.9% | |
| Q1 2021 | +6.3% | +12.7% | +8.2% | |
| Q4 2020 | +17.0% | +4.3% | +5.3% | |
| Q3 2020 | -7.3% | -6.4% | +6.1% | |
| Q2 2020 | +1.7% | -1.2% | +5.0% | |
| Q1 2020 | +1.3% | +6.4% | +8.4% | |
| Q4 2019 | -4.7% | +1.0% | +8.7% | |
| Q3 2019 | -1.8% | -5.7% | -3.7% | |
| Q2 2019 | -5.0% | -8.2% | -9.2% | |
| Q1 2019 | +0.8% | +0.2% | -2.5% | |
| Q4 2018 | +2.7% | -3.2% | -13.4% | |
| Q3 2018 | -5.0% | -5.1% | -6.4% | |
| Q2 2018 | +7.3% | +8.6% | +12.5% | |
| Q1 2018 | +5.3% | +3.5% | +5.3% | |
| Q4 2017 | +1.0% | +0.1% | -4.2% | |
| Q3 2017 | +10.2% | +10.3% | +6.6% | |
| Q2 2017 | -2.9% | -5.4% | +1.3% | |
| Q1 2017 | +2.1% | +1.8% | +5.4% | |
| Q4 2016 | +11.5% | +16.2% | +15.6% | |
| Q3 2016 | -8.9% | — | — | |
| Q2 2016 | -18.3% | — | — | |
| Q1 2016 | -7.1% | — | — | |
| Q4 2015 | +0.4% | — | — | |
| Q3 2015 | +4.6% | — | — | |
| Q2 2015 | +2.4% | — | — | |
| Q1 2015 | +2.9% | — | — | |
| Q4 2014 | -1.1% | — | — | |
| Q3 2014 | +9.6% | — | — | |
| Q2 2014 | -6.6% | — | — | |
| Q1 2014 | -0.2% | — | — | |
| Q4 2013 | +7.0% | — | — | |
| Q3 2013 | +4.3% | — | — | |
| Q2 2013 | -1.7% | — | — | |
| Q1 2013 | +0.7% | — | — | |
| Q4 2012 | +1.3% | — | — | |
| Q3 2012 | -4.0% | — | — | |
| Q2 2012 | +0.3% | — | — | |
| Q1 2012 | -0.9% | — | — | |
| Q4 2011 | +2.1% | — | — | |
| Q3 2010 | +1.2% | — | — | |
| Q2 2010 | +2.4% | — | — | |
| Q1 2010 | -4.7% | — | — | |
| Q4 2009 | +6.4% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro