Marvell Technology, Inc. (MRVL) reported a GAAP net income of $1.901 billion or $2.20 per share for the third quarter of fiscal 2026, a significant increase from a loss of $676.3 million or $0.78 per share in the prior year. Non-GAAP net income also rose to $655.0 million or $0.76 per share compared to $373.0 million or $0.43 per share last year. The company’s net revenue for the quarter was $2.075 billion, up from $1.516 billion, driven by strong demand for data center products. Looking ahead, Marvell projects GAAP net income per share for the fourth quarter to be $0.36 plus or minus $0.05, and Non-GAAP net income per share to be $0.79 plus or minus $0.05, with net revenue expected to be $2.200 billion plus or minus 5%. Analysts’ estimates were slightly lower, expecting earnings of $0.78 per share and revenues of $2.17 billion.

Read more at Nasdaq, Inc.: Marvell Technology Turns To Profit In Q3; Sees Q4 Results In Line With View