Marvell Technology, Inc. Earnings Recaps
Q2 2027
Aug 29, 2026
Shares of Marvell declined 11.6% following the earnings report despite solid revenue growth, driven primarily by cautious commentary on the communications segment and a lack of margin improvement to assuage investor concerns.
Key takeaways
- Reported Q2 revenue reached a record $2.739 billion, up 13% sequentially and 37% year-over-year, supported by strong growth in the Data Center business.
- Data Center revenue grew 18% sequentially and 46% year-over-year, with expectations for further acceleration next quarter, driven by AI-related demand and scale-out applications.
- Management highlighted broad strength within the Data Center segment but noted communications and other end markets remained "largely as expected," implying ongoing lumpiness and slower growth.
- Despite the top-line strength, there was no mention of margin expansion or improvement, suggesting margin pressures remain a concern.
- The stock reaction likely reflects investor disappointment with either the muted outlook for communications, potential margin headwinds, or increased risks not fully offset by Data Center momentum.
Q4 2026
Mar 7, 2026
Marvell Technology Inc. reported record fourth-quarter revenue of $2.219 billion, driven by strong demand in the data center sector, and significantly raised its fiscal 2027 revenue outlook to nearly $11 billion.
Key takeaways
- Fourth-quarter revenue increased 7% sequentially and 42% year-over-year, with data center revenue surpassing $6 billion.
- Non-GAAP EPS of $0.80 exceeded guidance by $0.01, reflecting operational strength and effective cost management.
- Strong bookings in the data center portfolio forecasted an 8% sequential revenue growth in Q1 FY27, with expectations for continuous growth exceeding $3 billion by Q4 FY27.
- Recent acquisitions of Celestial AI and XConn are expected to bolster technology capabilities, with significant contributions anticipated in FY28.
- Fiscal 2027 revenue growth projected at over 30%, driven primarily by the data center business, with interconnect revenue expected to grow more than 50% year-over-year.