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Marvell Shares Fall Over 10% in After-Hours Trading: Q3 Revenue Falls Short of External Expectations
On 29 August, AI chip manufacturer Marvell announced its financial results for the second fiscal quarter of 2026 (ending 2 August 2025) and its outlook for the third fiscal quarter after the close of US markets on 28 August.As Marvells revenue forecas…
On 29 August, AI chip manufacturer Marvell announced its financial results for the second fiscal quarter of 2026 (ending 2 August 2025) and its outlook for the third fiscal quarter after the close of US markets on 28 August.
As Marvell's revenue forecast midpoint for Q3 of $2.06 billion (IT Home note: approximately RMB 14.688 billion at current exchange rates) fell below analysts' consensus estimates, the company's share price declined by over 10% in after-hours trading, reaching a 14.15% drop at the time of IT Home's publication.
Despite Marvell achieving record revenue of $2.006 billion (approximately RMB 14.303 billion at current exchange rates) for its second fiscal quarter of 2026 – representing a 58% year-on-year increase and exceeding its late-May guidance by $6 million – this performance failed to fully satisfy external analysts. This indirectly reflects the US stock market's substantial growth expectations for companies in the AI sector.
Matt Murphy, Marvell's Chairman and Chief Executive Officer, stated: ‘Marvell achieved record revenue of $2.006 billion in the second quarter, representing a 58% year-over-year increase. We anticipate continued revenue growth in the third quarter, alongside improvements in operating margins and earnings per share.’
Marvell's growth momentum stems from robust AI demand for our custom silicon and optoelectronics products, coupled with a marked acceleration in the recovery pace of enterprise networking and carrier infrastructure end markets. Our custom AI design activities are at an all-time high, with the Marvell team currently engaged in over 50 new projects across more than ten customers.
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