Companies /Technology

Marvell Technology Inc

NASDAQ: MRVL Semiconductors
$223.55
▲ $14.72 (+7.05%) today
Markets closed · 8:58pm ET

Q1 2027 Earnings

Reported May 27, 2026, 4:06pm ET · SEC source
$0.80
Beat +0.63%
EPS · est. $0.80
$2.4B
Beat +0.41%
Revenue · est. $2.4B
+46.5%
Beating market
MRVL vs S&P since report
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0+3%May 27May 28report 4:06pm ETearnings+0.6%−0.1%
−6%−3%0+3%May 27May 28earnings+0.6%−0.1%
MRVL −0.1%S&P 500 +0.6%
−6%−3%0+3%May 27May 28report 4:06pm ETearnings+0.8%−0.1%
−6%−3%0+3%May 27May 28earnings+0.8%−0.1%
MRVL −0.1%NASDAQ +0.8%
0+20%+40%+60%May 26Jun 4report 4:06pm ETearnings+0.5%+47.0%
0+20%+40%+60%May 26Jun 4earnings+0.5%+47.0%
MRVL +47.0%S&P 500 +0.5%
0+20%+40%+60%May 26Jun 4report 4:06pm ETearnings+1.1%+47.0%
0+20%+40%+60%May 26Jun 4earnings+1.1%+47.0%
MRVL +47.0%NASDAQ +1.1%
+3.09%
Day of report
+0.08%
Next session
+54.48%
One week
+45.43%
30 days

S&P 500 over the same 30 days: −1.04%.

Did MRVL Beat Earnings? Q1 2027 Results

Marvell Technology posted a solid first quarter of fiscal 2027, beating expectations on both the top and bottom lines as surging AI infrastructure demand continued to reshape the company's revenue mix. The semiconductor maker reported non-GAAP EPS of $0.80, edging past the $0.80 consensus estimate by 0.63%, while revenue of $2.42 billion came in $10 million above the $2.41 billion consensus and grew 27.6% year-over-year. The data center segment was the clear engine of growth, contributing $1.83 billion, or 76% of total revenue, rising 27% year-over-year and 11% sequentially, as demand for custom AI silicon and high-speed optical interconnects accelerated through the quarter. Management struck a notably confident tone looking ahead, guiding Q2 revenue to $2.70 billion at the midpoint, implying roughly 35% year-over-year growth, with non-GAAP EPS expected at $0.93; CEO Matt Murphy cited exceptional AI-related bookings and significantly raised the company's revenue outlook for both fiscal 2027 and fiscal 2028, signaling expectations for growth to accelerate with each passing quarter.

Key Takeaways
  • Data center revenue grew 27% YoY driven by AI-related demand
  • Communications and other revenue grew 29% YoY
  • Exceptional AI-related bookings driving raised outlook
  • Operating cash flow reached record high of $638.8 million
  • Non-GAAP operating margin expanded to 35.0%

“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.”

Marvell Technology CEO, on the earnings call

Forward Guidance & Outlook

For Q2 fiscal 2027 (three months ending August 1, 2026), Marvell guided net revenue to $2.700 billion +/- 5%, representing approximately 35% year-over-year growth. Non-GAAP gross margin is expected to be 58.25% to 59.25%. Non-GAAP diluted EPS is expected to be $0.93 +/- $0.05. Non-GAAP operating expenses are expected to be approximately $600 million. Management expects revenue growth to continue accelerating each quarter throughout fiscal 2027 and is significantly raising its revenue outlook for both fiscal 2027 and fiscal 2028, driven by exceptional AI-related bookings and strong demand across a broad set of data center solutions.

MRVL YoY Financials

Q1 2027 vs Q1 2026 · SEC filings Q1 2026 Q1 2027
$0$700.0M$1.4B$2.1B$1.9B$2.4BRevenue$952.4M$1.3BGross Profit$270.6M$339.4MOperating Income$177.9M$34.5MNet Income
$0$700.0M$1.4B$2.1BRevenueGross ProfitOperating IncomeNet Income

MRVL Revenue by Segment

Data Center$1.8B+27.0%
Communications and other
Enterprise Networking
Carrier Infrastructure
Consumer
Automotive/Industrial

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