Marvell Sees 28% Q1 Surge, Guides Q2 $2.7B and Raises Fiscal 2027 Outlook to $11.5B
MRVL•Marvell Technology posted fiscal Q1 revenue of $2.42 billion, up 28% year-over-year, and adjusted earnings of $0.80 per share, both topping estimates. The company guided Q2 revenue at $2.70 billion (35% YoY growth) and raised its fiscal 2027 revenue outlook to about $11.5 billion, citing exceptional AI-related bookings.
1. Strong Q1 Performance
Marvell Technology recorded fiscal Q1 revenue of $2.42 billion, marking a 28% increase year-over-year, and delivered adjusted earnings of $0.80 per share, above consensus forecasts. Non-GAAP gross margin reached 58.9%, highlighting rising chip demand and operational efficiency gains.
2. Robust Q2 Outlook
The company guided fiscal Q2 revenue to $2.70 billion, plus or minus 5%, implying 35% year-over-year growth, and forecast adjusted profit of $0.93 per share, beating analyst estimates. It also lifted its full-year fiscal 2027 revenue target to $11.5 billion, up roughly 40% from the prior year.
3. AI-Driven Demand Expansion
Exceptional bookings for AI-related solutions are driving the upgraded outlook, with strong demand for 800G and 1.6T scale-out optics, 51.2T Ethernet scale-out switches, data center interconnect modules and custom XPU offerings. Large U.S. technology firms plan more than $700 billion in AI infrastructure spending this year, fueling demand for Marvell’s chips.
