Marvell Q2 Revenue Beats on Strong Data Center Demand

Marvell Technology Inc reported fiscal second-quarter results after the bell Thursday. Here are the key details.

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Marvell Q2 Earnings Highlights

Marvell reported second-quarter revenue of $2.74 billion, beating the $2.71 billion consensus estimate. The chip designer reported adjusted earnings per share of 94 cents for the quarter, beating the 92-cent estimate.

Total revenue rose 37% year-over-year, driven by continued strong demand for the company's data center product portfolio, which grew 46% year-over-year. Operating cash flow for the quarter totaled $605.5 million.

"We saw strength across our data center portfolio, including robust demand for our interconnect products, and we are seeing significant acceleration of our custom programs starting in the second half of fiscal 2027," said Matt Murphy, Marvell's chairman and CEO.

Guidance

Marvell guided for third-quarter revenue of $3.15 billion, plus or minus 5%, versus the $3.03 billion consensus estimate. The company guided for third-quarter adjusted earnings per share of $1.10, plus or minus 5 cents, versus the $1.07 estimate.

Marvell also guided for third-quarter adjusted gross margin of 57.5% to 58.5%, versus 58.9% in the second quarter.

"AI-related demand remains exceptionally strong, and we expect our revenue growth to further accelerate through the remainder of fiscal 2027," Murphy said.

Management Commentary

Marvell management will hold a conference call with investors and analysts at 4:45 p.m. ET to discuss the quarterly results.

MRVL Stock Reaction

MRVL shares were down 2.94% in after-hours trading Thursday at $234.36. Heading into the print, Marvell shares were up roughly 186% year-to-date.