Marvell Guides Q1 Revenue at $2.4B, Driven by 74% Data Center Sales
Marvell reported Q4 FY2026 revenue of $2.22 billion, beating the $2.21 billion consensus, and non-GAAP EPS of $0.80 versus $0.79. Management guided Q1 FY2027 revenue at approximately $2.4 billion, above the $2.28 billion forecast, expecting accelerating data center revenue now representing roughly 74% of sales.
1. Q4 FY2026 Financial Results
Marvell reported Q4 FY2026 revenue of $2.22 billion, surpassing the $2.21 billion consensus, with non-GAAP EPS at $0.80 versus $0.79. Data center revenue accounted for approximately 74% of total sales, maintaining a high concentration from prior quarters.
2. Q1 FY2027 Guidance and Growth Outlook
For Q1 FY2027, management forecast revenue of about $2.4 billion, well above the $2.28 billion expectation. CEO Matt Murphy indicated year-over-year revenue growth will accelerate each quarter, driven by continued data center demand.
3. Strategic AI Infrastructure Positioning
Marvell designs custom AI ASICs for hyperscalers and the optical interconnect hardware that links them. The company recently acquired Celestial AI and plans to close the XConn Technologies deal to bolster high-speed networking capabilities.
4. Data Center Concentration Risk
With data center revenue making up roughly three-quarters of total sales, Marvell’s performance is closely tied to hyperscaler infrastructure spending. The divestiture of the automotive ethernet business has deepened exposure to AI capex cycles and increased concentration risk.