Marvell Technology Inc (NASDAQ:MRVL) reported financial results for the second quarter after the market close on Thursday. Here’s a look at the key details from the report.
- Marvell Technology shares are consolidating. What’s ahead for MRVL stock?
Marvell Q2 Earnings Highlights
Marvell posted second-quarter revenue of $2.74 billion, beating the consensus estimate of $2.71 billion. The chip designer reported adjusted earnings of 94 cents per share for the period, beating estimates of 92 cents per share, according to Benzinga Pro.
Total revenue was up 37% on a year-over-year basis, driven by continued strong demand across the company’s Data Center portfolio, which saw 46% growth year-over-year. Cash flow from operations totaled $605.5 million in the quarter.
“We are seeing broad-based strength across our Data Center portfolio, including strong demand in Connectivity and a significant acceleration in our Custom business beginning in the second half of fiscal 2027,” said Matt Murphy, chairman and CEO of Marvell.
Marvell expects third-quarter revenue of $3.15 billion, plus or minus 5%, versus estimates of $3.03 billion. The company also guided third-quarter adjusted earnings of $1.10 per share, plus or minus five cents per share, compared to estimates of $1.07 per share.
Marvell also guided for third-quarter adjusted gross margins of 57.5% to 58.5%, versus 58.9% in the second quarter.
“AI-related bookings remain exceptionally robust, and we expect our revenue growth to accelerate further through the remainder of fiscal 2027,” Murphy said.
Marvell management will discuss the quarter on an earnings call with investors and analysts at 4:45 p.m. ET.
MRVL Shares Move Lower After Earnings
MRVL Price Action: Marvell shares were up approximately 186% year-to-date heading into the print. The stock was down 2.94% in after-hours Thursday, trading at $234.36 at the time of publication, according to Benzinga Pro.
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