Marvell Technology Inc. (NASDAQ:MRVL) posted its first-quarter results after Wednesday’s closing bell, beating estimates on the top and bottom lines.
Here's a look at the details inside the report.
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Marvell Q1 Details
Marvell reported quarterly earnings of 80 cents per share, which beat the analyst consensus estimate of 79 cents, according to Benzinga Pro data.
Quarterly revenue came in at $2.42 billion, which beat the analyst consensus estimate of $2.4 billion and was up from $1.9 billion in the same period last year.
Non-GAAP gross margin was 58.9% for the quarter.
“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,” said Matt Murphy, Marvell CEO.
“We expect revenue growth to continue accelerating each quarter throughout fiscal 2027, driven by continued strength in our data center business,” Murphy added.
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Looking Ahead
Marvell expects second quarter adjusted EPS of 88 cents to 98 cents, versus the 90 cent analyst estimate, and revenue in a range of $2.57 billion to $2.84 billion, versus $2.6 billion analyst estimate.
“We are seeing exceptional AI-related bookings, and as a result, we are significantly raising Marvell’s revenue outlook for both fiscal 2027 and fiscal 2028 compared with the guidance we provided last quarter,” Murphy said.
MRVL Stock Price Activity: According to data from Benzinga Pro, Marvell stock was up 8.23% to $215.06 in Wednesday's extended trading.
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