Marvell Reports Record Q2 Revenue of $2.739 Billion, Up 37% Year-on-Year

Marvell Technology, Inc. reported record second-quarter fiscal 2027 net revenue of $2.739 billion, up 37% from a year earlier, according to an 8-K filed with the SEC.

The Santa Clara-based semiconductor company said net revenue came in $39.0 million above the midpoint of guidance it had provided on May 27, 2026. GAAP net income for the quarter was $308.0 million, or $0.33 per diluted share, while non-GAAP net income was $865.9 million, or $0.94 per diluted share. Cash flow from operations was $605.5 million.

Gross margin for the quarter was 53.1% on a GAAP basis and 58.9% on a non-GAAP basis. Chairman and CEO Matt Murphy said growth was driven by continued strong demand across the company's Data Center portfolio, where revenue growth accelerated to 46% year over year. Murphy said AI-related bookings remain exceptionally robust and that the company expects revenue growth to accelerate further through the remainder of fiscal 2027.

Murphy said the company is raising its revenue outlook for both fiscal 2027 and fiscal 2028 compared with guidance provided last quarter, citing broad-based strength across the Data Center portfolio, strong demand in Connectivity, and an acceleration in the Custom business beginning in the second half of fiscal 2027. He said the company plans to share its long-term strategy for AI infrastructure expansion at an Investor Day on October 6, 2026.

For the third quarter of fiscal 2027, Marvell said it expects net revenue of $3.150 billion, plus or minus 5%. The company expects GAAP gross margin of 52.9% to 53.9% and non-GAAP gross margin of 57.5% to 58.5%. GAAP diluted net income per share is expected to be $0.53, plus or minus $0.05, while non-GAAP diluted net income per share is expected to be $1.10, plus or minus $0.05.

Finazon · prior-day close · Aug 26, 2026