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Marvell Technology posted Q1 revenue of $2.42 billion, slightly ahead of estimates and up sharply year over year.
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Adjusted earnings came in at $0.80 per share, narrowly beating consensus estimates.
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The company expects Q2 revenue of $2.70 billion and adjusted profit of $0.93 per share, both ahead of estimates.
Marvell Technology Inc (MRVL) reported its first-quarter results after Wednesday’s close, topping estimates on both revenue and earnings.
The chipmaker reported revenue of $2.42 billion, slightly above estimates of $2.41 billion. It was also above $1.9 billion which was reported in the same period last year.
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The company’s adjusted earnings came in at $0.80 per share, narrowly beating consensus estimates of $0.79 per share. Non-GAAP gross margin was 58.9% in the quarter.
The MRVL stock had gained nearly 7% in after-hours trading, at the time of writing.
MRVL’s Q2 Revenue Guidance
Marvell guided second-quarter revenue to $2.70 billion, plus or minus 5%, topping estimates of $2.60 billion. It also forecast adjusted earnings of $0.93 per share, above estimates of $0.90 apiece.
“Marvell delivered record first-quarter fiscal 2027 revenue of $2.418 billion, up 28% year-over-year, and guided second-quarter revenue to $2.7 billion at the mid-point, representing 35% year-over-year growth. We expect revenue growth to continue accelerating each quarter throughout fiscal 2027, driven by continued strength in our data center business,” said Matt Murphy, Marvell’s Chairman and CEO.
MRVL Lifts Outlook On Strong AI Demand
“We are seeing exceptional AI-related bookings, and as a result, we are significantly raising Marvell’s revenue outlook for both fiscal 2027 and fiscal 2028 compared with the guidance we provided last quarter,” said Murphy.
On the improved outlook, Murphy said that it was “driven by strong demand across a broad set of Marvell solutions, including 800G and 1.6T scale-out optics, 51.2T Ethernet scale-out switches, scale-up optical solutions for NPO and CPO applications, scale-across datacenter interconnect modules, and custom XPU and XPU-attach solutions.”
According to a Reuters report, US tech giants including Alphabet (GOOGL) and Amazon (AMZN) are expected to spend more than $700 billion on AI infrastructure this year, up sharply from about $400 billion in 2025.
MRVL Stock: What Stocktwits Retail Sentiment Says
On Stocktwits, retail sentiment for Marvell Technology turned “extremely bullish” from “bullish” a day earlier, while message volume was at “extremely high” levels.
