Marvell (MRVL) Reports Record Q2 Revenue and Raises Fiscal Outlooks
Marvell Technology Group (NASDAQ: MRVL) delivered a strong second-quarter fiscal 2027 performance, reporting record net revenue of $2.739 billion — up 37% year over year and 13% sequentially. The company's data center segment drove the growth with $2.17 billion in revenue (accounting for 79% of total), fueled by artificial intelligence demand. Marvell raised its fiscal 2027 revenue outlook to $12 billion from a prior estimate of $11.5 billion, and increased its fiscal 2028 guidance to $18 billion — up $1.5 billion from the previous forecast. The company also expects data center growth rates to accelerate to over 60% in both fiscal years. Non-GAAP gross margin came in at 58.9%, slightly above expectations, while operating expenses rose due to increased investment for future revenue opportunities.
Tickers: $MRVL
Topics: data_center_growth fiscal_forecast non-gaap_eps revenue