Companies /Technology

Marvell Technology Inc

NASDAQ: MRVL Semiconductors
$223.55
▲ $14.72 (+7.05%) today
Markets closed · 5:37pm ET

Q2 2027 Earnings

Reported Aug 27, 2026, 4:05pm ET · SEC source
$0.94
Beat +1.19%
EPS · est. $0.93 Adjusted
$2.7B
Beat +1.20%
Revenue · est. $2.7B
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−8%−4%0+4%Aug 27Aug 28report 4:05pm ETearnings−0.2%−8.3%
−8%−4%0+4%Aug 27Aug 28earnings−0.2%−8.3%
MRVL −8.3%S&P 500 −0.2%
−8%−4%0+4%Aug 27Aug 28report 4:05pm ETearnings−0.6%−8.3%
−8%−4%0+4%Aug 27Aug 28earnings−0.6%−8.3%
MRVL −8.3%NASDAQ −0.6%
−14%−7%0+7%Aug 26Sep 4report 4:05pm ETearnings−0.0%−5.6%
−14%−7%0+7%Aug 26Sep 4earnings−0.0%−5.6%
MRVL −5.6%S&P 500 −0.0%
−14%−7%0+7%Aug 26Sep 4report 4:05pm ETearnings−0.2%−5.6%
−14%−7%0+7%Aug 26Sep 4earnings−0.2%−5.6%
MRVL −5.6%NASDAQ −0.2%
−10.28%
Day of report
−2.29%
Next session
+3.20%
One week

Did MRVL Beat Earnings? Q2 2027 Results

Marvell Technology delivered a strong beat across the board in its fiscal second quarter of 2027, with revenue of $2.74 billion growing 36.5% year over year and edging past the $2.71 billion consensus by 1.20%, while adjusted non-GAAP EPS of $0.94 cleared the $0.93 analyst estimate by 1.19%. The single clearest driver of the quarter was the Data Center segment, which generated $2.17 billion in revenue, up 46% year over year, and now accounts for 79% of total company revenue, compared to 74% a year ago. Non-GAAP operating margin expanded to 36.6% from 34.8%, even as non-GAAP gross margin dipped modestly to 58.9%. The momentum is showing no signs of slowing; management raised its revenue outlook for both fiscal 2027 and fiscal 2028, and guided Q3 revenue to $3.15 billion with non-GAAP EPS of $1.10. An expanded custom silicon partnership with Google, which includes a warrant allowing Google to acquire up to 7% of Marvell's shares tied to revenue milestones, adds a notable long-term dimension to the company's AI infrastructure positioning.

Key Takeaways
  • Data Center revenue grew 46% YoY and 18% QoQ, representing 79% of total revenue
  • AI-related bookings remain exceptionally robust
  • Broad-based strength across Data Center portfolio including strong connectivity demand
  • Revenue came in $39 million above the midpoint of prior guidance

“Marvell delivered record second-quarter fiscal 2027 revenue of $2.739 billion, up 37% year over year, driven by continued strong demand across our Data Center portfolio, where revenue growth accelerated to 46% year over year.”

Marvell Technology CEO, on the earnings call

Forward Guidance & Outlook

For Q3 fiscal 2027 (ending October 31, 2026), Marvell expects net revenue of $3.150 billion +/- 5%, GAAP gross margin of 52.9%-53.9%, non-GAAP gross margin of 57.5%-58.5%, GAAP operating expenses of approximately $1.015 billion, non-GAAP operating expenses of approximately $655 million, GAAP diluted EPS of $0.53 +/- $0.05, and non-GAAP diluted EPS of $1.10 +/- $0.05. The company is raising its revenue outlook for both fiscal 2027 and fiscal 2028 versus prior quarter guidance, expecting revenue growth to accelerate further through the remainder of fiscal 2027, driven by broad-based Data Center strength including connectivity demand and a significant acceleration in the Custom business beginning in H2 fiscal 2027. An Investor Day is planned for October 6, 2026.

MRVL YoY Financials

Q2 2027 vs Q2 2026 · SEC filings Q2 2026 Q2 2027
$0$800.0M$1.6B$2.4B$2.0B$2.7BRevenue$1.0B$1.5BGross Profit$290.1M$459.7MOperating Income$194.8M$308.0MNet Income
$0$800.0M$1.6B$2.4BRevenueGross ProfitOperating IncomeNet Income

MRVL Revenue by Segment

Data Center$2.2B+46.0%
Communications and other$567.8M+10.0%
Enterprise Networking
Carrier Infrastructure
Consumer
Automotive/Industrial

Figures from SEC filings and company reports. Not investment advice.