Q1 27 EPS
$0.80
BEAT +0.63%
Est. $0.80
Q1 27 Revenue
$2.42B
BEAT +0.41%
Est. $2.41B
vs S&P Since Q1 27
+31.9%
BEATING MARKET
MRVL +30.0% vs S&P -1.8%
Market Reaction
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… Read more 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%
MRVL 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, source: SEC Filings
MRVL Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Matt Murphy, Q1 2027 Earnings Press Release
MRVL Earnings Trends
MRVL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MRVL EPS Trend
Earnings per share: estimate vs actual
MRVL Revenue Trend
Quarterly revenue: estimate vs actual
MRVL Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 BEAT | $0.80 | $0.80 | +0.63% | $2.42B | +0.41% |
| Q4 26 BEAT FY | $0.79 | $0.80 | +1.05% | $2.22B | +0.42% |
| FY Full Year | — | $2.84 | — | $8.19B | — |
| Q3 26 BEAT | $0.74 | $0.76 | +3.01% | $2.07B | +0.44% |
| Q2 26 MISS | $0.67 | $0.67 | -0.50% | $2.01B | -0.20% |
| Q1 26 BEAT | $0.61 | $0.62 | +1.11% | $1.90B | +0.87% |
| Q4 25 BEAT FY | $0.59 | $0.60 | +1.57% | $1.82B | +1.19% |
| FY Full Year | $1.56 | $1.57 | +0.75% | $5.77B | +0.32% |