Marvell Technology reported record quarterly revenue of $2.74 billion, a 37% increase year over year, driven mainly by its Data Center business. Non-GAAP EPS rose 40% to $0.94, and the company raised its fiscal 2027 and 2028 revenue forecasts to $12 billion and $18 billion respectively. Despite strong results, shares fell due to investor concerns about the timing of significant revenue from Marvell's custom-chip deal with Google, which is expected to contribute more substantially starting fiscal 2029. The company remains dependent on a few major customers, highlighting some business risks.
Marvell Technology's stock fell 7% despite reporting record Data Center revenue and raising its fiscal 2027 and 2028 outlooks. The decline is due to the timing of a large AI deal with Google, which will deliver significant revenue starting in fiscal ...
Marvell Technology is rapidly growing by providing essential AI infrastructure components, posting a 46% year-over-year increase in data center revenue in Q2 FY2027. The company projects continued revenue growth, targeting $11.5 billion in FY2027 and...
Marvell Technology's shares fell 8% in premarket trading after its fiscal 2028 revenue outlook, projecting about 50% growth to $18 billion, fell short of investor expectations fueled by a recent Google partnership. The chipmaker reported a 37% year-o...
Marvell Technology reported Q2 earnings and revenue above Wall Street expectations, with data center revenue up 46% year-over-year to $2.17 billion, driven by robust AI-related bookings. Despite this, shares fell 8% in premarket trading as investors ...
Marvell Technology reported a strong Q2 with revenue up 37% year-over-year and slight beats on revenue and earnings per share. The data center segment grew 46% YoY, driven by demand for AI and custom ASICs, with management forecasting over 60% growth...
