Filing Flows › Marvell Technology (MRVL) › Guidance history
Marvell Technology (MRVL) guidance history: what it guided and what it reported
Marvell Technology gave guidance in 12 earnings releases on file since May 30, 2024. Of 21 guided periods since reported, it met or beat its own guidance 19 times (90%). Revenue: 7 of 7, on average +0.9% against the guided midpoint. Its releases raised guidance twice and lowered it 0 times.
Revenue
Met or beat 7 of 7 periods (0 above, 7 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | $3.0B–$3.3B (Aug 27, 2026) | — | to be reported | — |
| Q2 FY27 | $2.6B–$2.8B (May 27, 2026) | $2.7B | within the range | +1.5% |
| Q1 FY27 | $2.3B–$2.5B (Mar 5, 2026) | $2.4B | within the range | +0.7% |
| Q4 FY26 | $2.1B–$2.3B (Dec 2, 2025) | $2.2B | within the range | +0.8% |
| Q3 FY26 | $2.0B–$2.2B (Aug 28, 2025) | $2.1B | within the range | +0.7% |
| Q2 FY26 | $1.9B–$2.1B (May 29, 2025) | $2.0B | within the range | +0.3% |
| Q1 FY26 | $1.8B–$2.0B (Mar 5, 2025) | $1.9B | within the range | +1.1% |
| Q4 FY25 | $1.7B–$1.9B (Dec 3, 2024) | $1.8B | within the range | +1.0% |
| Q3 FY25 | $1.4B–$1.5B (Aug 29, 2024) | — | — | — |
GAAP gross margin
Met or beat 7 of 7 periods (1 above, 6 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | 52.9%–53.9% (Aug 27, 2026) | — | to be reported | — |
| Q2 FY27 | 52.1%–53.1% (May 27, 2026) | 53.1% | within the range | +0.5 pts |
| Q1 FY27 | 51.4%–52.4% (Mar 5, 2026) | 52.1% | within the range | +0.2 pts |
| Q4 FY26 | 51.1%–52.1% (Dec 2, 2025) | 51.7% | within the range | +0.1 pts |
| Q3 FY26 | 51.5%–52.0% (Aug 28, 2025) | 51.6% | within the range | -0.2 pts |
| Q2 FY26 | 50.0%–51.0% (May 29, 2025) | 50.4% | within the range | -0.1 pts |
| Q1 FY26 | 50.5% (Mar 5, 2025) | 50.3% | within the range | -0.2 pts |
| Q4 FY25 | 50.0% (Dec 3, 2024) | 50.5% | above the range | +0.5 pts |
| Q3 FY25 | 47.2% (Aug 29, 2024) | — | — | — |
| Q2 FY25 | 46.2% (May 30, 2024) | — | — | — |
Adjusted gross margin
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | 57.5%–58.5% (Aug 27, 2026) | — | to be reported | — |
| Q2 FY27 | 58.2%–59.2% (May 27, 2026) | — | — | — |
| Q1 FY27 | 58.2%–59.2% (Mar 5, 2026) | — | — | — |
| Q4 FY26 | 58.5%–59.5% (Dec 2, 2025) | — | — | — |
| Q3 FY26 | 59.5%–60.0% (Aug 28, 2025) | — | — | — |
| Q2 FY26 | 59.0%–60.0% (May 29, 2025) | — | — | — |
| Q1 FY26 | 60.0% (Mar 5, 2025) | — | — | — |
| Q4 FY25 | 60.0% (Dec 3, 2024) | — | — | — |
| Q3 FY25 | 61.0% (Aug 29, 2024) | — | — | — |
| Q2 FY25 | 62.0% (May 30, 2024) | — | — | — |
GAAP operating expenses
Met or beat 5 of 7 periods (2 above, 2 within, 3 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | $1.0B (Aug 27, 2026) | — | to be reported | — |
| Q2 FY27 | $960M (May 27, 2026) | $996M | above the range | +3.7% |
| Q1 FY27 | $872M (Mar 5, 2026) | $921M | above the range | +5.7% |
| Q4 FY26 | $741M (Dec 2, 2025) | $744M | within the range | +0.3% |
| Q3 FY26 | $719M (Aug 28, 2025) | $712M | within the range | -1.0% |
| Q2 FY26 | $735M (May 29, 2025) | $720M | below the range | -2.0% |
| Q1 FY26 | $712M (Mar 5, 2025) | $682M | below the range | -4.2% |
| Q4 FY25 | $710M (Dec 3, 2024) | $682M | below the range | -3.9% |
| Q3 FY25 | $693M (Aug 29, 2024) | — | — | — |
| Q2 FY25 | $688M (May 30, 2024) | — | — | — |
Adjusted operating expenses
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | $655M (Aug 27, 2026) | — | to be reported | — |
| Q2 FY27 | $600M (May 27, 2026) | — | — | — |
| Q1 FY27 | $575M (Mar 5, 2026) | — | — | — |
| Q4 FY26 | $515M (Dec 2, 2025) | — | — | — |
| Q3 FY26 | $485M (Aug 28, 2025) | — | — | — |
| Q2 FY26 | $495M (May 29, 2025) | — | — | — |
| Q1 FY26 | $490M (Mar 5, 2025) | — | — | — |
| Q4 FY25 | $480M (Dec 3, 2024) | — | — | — |
| Q3 FY25 | $465M (Aug 29, 2024) | — | — | — |
| Q2 FY25 | $455M (May 30, 2024) | — | — | — |
GAAP EPS
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 FY27 | $0.48–$0.58 (Aug 27, 2026) | — | to be reported | — |
| Q2 FY27 | $0.32–$0.42 (May 27, 2026) | — | — | — |
| Q1 FY27 | $0.26–$0.36 (Mar 5, 2026) | — | — | — |
| Q4 FY26 | $0.31–$0.41 (Dec 2, 2025) | — | — | — |
| Q3 FY26 | $1.98–$2.08 (Aug 28, 2025) | — | — | — |
| Q2 FY26 | $0.16–$0.26 (May 29, 2025) | — | — | — |
| Q1 FY26 | $0.14–$0.24 (Mar 5, 2025) | — | — | — |
| Q4 FY25 | $0.11–$0.21 (Dec 3, 2024) | — | — | — |
| Q3 FY25 | −$0.14–−$0.04 (Aug 29, 2024) | — | — | — |
| Q2 FY25 | −$0.25–−$0.15 (May 30, 2024) | — | — | — |
The latest quarter
Marvell Technology, Q2 FY27: revenue $2.7B (+36% year over year), operating margin 16.8%, net earnings $308M, operating cash flow $606M. The chart follows the revenue to costs, profit and cash.
Questions
Does Marvell Technology beat its guidance?
Marvell Technology gave guidance in 12 earnings releases on file since May 30, 2024. Of 21 guided periods since reported, it met or beat its own guidance 19 times (90%). Revenue: 7 of 7, on average +0.9% against the guided midpoint.
How often does Marvell Technology raise guidance?
Its earnings releases raised guidance twice and lowered it 0 times since May 30, 2024.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.